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Mortgage Business
Westpac earnings to dip by $280m By Malavika Santhebennur 27 April 2021
The lender has said its cash earnings will be reduced in 1H21 due to notable items, including write-down of goodwill related to lender’s mortgage insurance.
Westpac has announced that its cash earnings in the first half of the 2021 financial year (1HFY21) will be reduced by $282 million (after tax), while its statutory net profit will also be reduced due to what it said are notable items.
The notable items after tax include the write-down of goodwill in the group’s lenders mortgage insurance business as it is now held for sale.
MODIFI Announces New 60m USD Debt Facility with Silicon Valley Bank, Brings Total Raised Capital to 111m USD to Fuel Global Expansion
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MODIFI will use the funds to expand into the US.
MODIFI s digital trade finance platform provides SMEs with buyer and seller financing in a matter of days.
MODIFI tripled its business in 2020 and launched in four new markets during the pandemic - China, Hong Kong, UAE and Spain. The trend has continued in 2021 with the launch in the Netherlands.
AMSTERDAM, THE NETHERLANDS - Media OutReach – 17 March 2021 - Global fintech MODIFI announces a new 60m USD debt facility with Silicon Valley Bank (SVB), bringing its total raised capital to 111m USD. The facility from SVB s German Branch will be used to address increasing demand in existing markets, as well as fuel MODIFI s continuing growth and finance buyers and sellers in new geographies, particularly the US.
MODIFI partners with Solarisbank to expand to the Netherlands thepaypers.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thepaypers.com Daily Mail and Mail on Sunday newspapers.
Node4 acquires K3’s Starcom Technologies
1st March 2021
Node4 has acquired Starcom Technologies Limited, the MSP division of K3 Business Technologies Group (K3). The acquisition will see Starcom Technologies become part of Node4’s comprehensive portfolio of services, further adding to its capability of delivering enhanced cloud managed services throughout the UK. It also expands the company’s operational presence with offices in Scotland, the North West and South East England.
With annualised revenues of £11m, Starcom Technologies has built a reputation with K3’s customers as a collaborative and service-led cloud, hosted and managed services provider. This acquisition presents a huge opportunity for Node4 to continue its growth as a leading national provider of cloud managed services, expanding its operational footprint while deepening the company’s cloud hosting expertise with enterprise resource planning (ERP) systems such as SYSPRO, Sage and Microsoft Dynamics.