Australia's Credit Corp rises on HSBC Australia card portfolio deal, outlook upgrade
21/08/2026 05:39
BUZZ-Australia's Credit Corp rises on HSBC Australia card portfolio deal, outlook upgrade ** Shares of Australia's Credit Corp Group CCP.AX rise as much as 6.7% to A$14.240, their biggest intraday pct gain since May 7
** Stock hits its highest level since August 4
** The financial services company says it will buy credit card run-off book from HSBC Australia
** Deal is valued at about A$150 million ($107.12 million), and is expected to close in early 2027
** Company raises its FY27 NPAT outlook to be between A$112 and A$120 million, representing a 10% growth in earnings relative to FY26 at the mid-point of the range
** YTD, stock down 1.4%
($1 = 1.4004 Australian dollars)
(Reporting by Paridhi Minda in Bengaluru)
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Australia's Credit Corp rises on HSBC Australia card portfolio deal, outlook upgrade
Brief: Credit Corp Group Announces Acquisition Of Credit Card Run-Off Book From HSBC