Latest Banking News

Commonwealth Bank of Australia reported a robust 8% increase in net profit after tax for the half year ended December 2024, underpinned by higher revenue and disciplined credit management. The bank declared a fully franked interim dividend of 225 cents per share, reflecting confidence amid economic headwinds.

Auswide Bank Ltd's shares have been suspended from trading following court approval of its acquisition by MyState Bank Limited, marking a significant consolidation in the Australian retail banking sector.

Auswide Bank’s acquisition by MyState Bank has reached a key milestone with the scheme of arrangement now legally effective, triggering a suspension of Auswide’s shares and setting the stage for shareholder transitions.

The Supreme Court of New South Wales has approved MyState Bank’s acquisition of Auswide Bank via a scheme of arrangement, setting the stage for a significant consolidation in the Australian banking sector.

Auswide Bank Ltd held a pivotal Scheme Meeting to decide on its acquisition by MyState Bank Limited, with directors unanimously recommending approval. Shareholders will exchange Auswide shares for MyState shares, creating a merged entity with shared ownership.

Auswide Bank has secured Treasurer approval for MyState Bank’s acquisition via a scheme of arrangement, setting the stage for a pivotal shareholder vote in early February.

MyState Limited has secured Federal Treasurer approval for its merger with Auswide Bank, advancing plans to create a larger regional banking group pending shareholder and court consent.