Australia's MyState set for worst day in nearly 15 months on weak FY24 outlook

MyState

15/12/2023 02:12

** Shares of MyState Ltd  MYS.AX  fall as much as 5.7% to
A$2.970, set for their worst day since Aug 30, 2022, if losses
hold
    ** The financial services co sees FY24 EPS down 7.5% to
12.5% on FY23
    ** Says average net interest margin for 1H24 projected to be
in the range of 1.45% to 1.49% vs 1.55% in 2H23 due to
competitive environment in lending
    ** Says it has decided to temper its FY24 lending growth in
favour of margins
    ** Shares hit their lowest since Nov 29
    ** As of last close, stock down 19.6% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))