The high credit quality of MyState's loan book is the core strength of the business.
As expected, no-moat-rated MyState Limited’s first-half fiscal 2018 cash profit of AUD 15.8 million increased 4% on the previous corresponding period, or pcp. Despite pressure on net interest margins, the first-half profit was boosted by improved cost efficiency and credit quality. The interim fully franked dividend of AUD 14.25 cents per share increased 2% on the pcp and was based on an 81% payout. Following the result, we retain our AUD 5.00 fair value estimate and fiscal 2018 earnings forecas...MyState is a provider of banking, trustee and wealth management products and services through its wholly-owned subsidiaries MyState Bank Limited and Tasmanian Perpetual Trustees Limited. The banking division's product offerings include lending, encompassing home loans, personal, overdraft, line of credit and commercial products; transactional savings accounts and fixed term deposits; and insurance products. The wealth management division is a provider of funds management, financial planning and trustee services. It operates predominantly within Tasmania. As of June 30 2016, Co. had total assets of A$4.42 billion and total deposits of A$3.26 billion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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