FINWIRES · TerminalLIVE
FINWIRES

Credit Corp Group to Acquire HSBC Bank Australia's Credit Card Run-Off Book

By

Credit Corp Group (ASX:CCP) signed a binding agreement with HSBC Bank Australia to acquire its Australian credit card run-off book, subject to regulatory approval, according to a Friday Australian bourse filing.

The consideration is expected to be around AU$150 million, and the deal is expected to complete early in 2027 after HSBC undertakes a process of deactivating the credit cards on issue.

Credit Corp revised its fiscal 2027 net profit after tax guidance to between AU$112 million and AU$120 million from between AU$110 million and AU$118 million, as well as that for its earnings per share to between AU$1.64 per share and AU$1.76 per share from between AU$1.61 per share and AU$1.73 per share.

Its shares were up 1% in recent trading on Friday.

Related Articles

Asia

Fitch Keeps Petrovietnam Refining and Petrochemical's Rating at BB+, Outlook Stable

Fitch Ratings affirmed Petrovietnam Refining and Petrochemical's (HOSE:BSR) long-term issuer default rating at BB+, with a stable outlook.Fitch said the company's standalone credit profile of bb- reflects its strong market position and robust financial profile, partly offset by the small scale and below-average complexity of its Dung Quat refinery.The agency expects the company's refinery upgrade and expansion to raise capacity by 15% to 171,000 barrels per day.Fitch expects Petrovietnam Refining and Petrochemical to remain in a net cash position over the next two to three years despite rising capex during construction.The rating could be downgraded if PVN's rating falls or its incentives to support BSR weaken, while an upgrade would depend on a higher PVN rating with support incentives intact.

HOSE:BSR
Asia

Kingsoft Office Software H1 Profit Up 237%, Revenue Climbs 25%

Beijing Kingsoft Office Software (SHA:688111) posted first-half attributable net profit of 2.52 billion yuan, up 237% from 747.2 million yuan the previous year.Earnings per share rose to 5.41 yuan from 1.61 yuan, according to a Thursday filing with the Shanghai bourse.Revenue climbed 25% year over year to 3.31 billion yuan from 2.66 billion yuan.

SHA:688111
Asia

Bank of Ningbo's H1 Profit, Revenue Rise 12%; Shares Up 3%

Bank of Ningbo's (SHE:002142) net profit attributable to shareholders in the first half rose 12% to 16.6 billion yuan from 14.8 billion yuan a year earlier, according to a Shenzhen bourse filing on Thursday.Earnings per share increased year on year to 2.51 yuan from 2.24 yuan.Operating revenue also climbed 12% to 41.5 billion yuan from 37.2 billion yuan in the prior year.The lender said it will distribute a cash dividend of 4 yuan for every ten shares to registered shareholders.The company's shares rose 3% during the morning trade.

SHE:002142