Suncorp Group Limited: Cleansing Notice and Update on COVID-19 Impact & CEO’s Exit

May 11, 2020 12:56 PM AEST | By Team Kalkine Media

Google News:

Recent News

Raiden Resources (ASX: RDN) Identifies High-Grade Feeder Zone at Vuzel...

Australians more likely to check on Mum and Pup than Dad in a storm

ASX200 Outlook: Trade Optimism Lifts Global Sentiment, Local Market to...

Sandfire Resources Delivers Strong Multi-Year Returns Backed by Fundam...

Suncorp Group Limited (ASX:SUN) notified the market that it had issued 3 fully paid ordinary shares at a price of $8.91 per new share. This issuance is to finance the redemption of SUN’s convertible preference shares that will not be transformed into ordinary shares.

SUN further announced that Ms Lee Hatton, CEO Banking and Wealth will be exiting the organisation by the end of May this year. Until a permanent replacement of Ms Hatton is made, Mr Bruce Rush who is Executive General Manager Deposits & Payments, will be Acting as CEO Banking and Wealth.

As an update on COVID-19, the Group announced following key points.

Group expenses to be marginally greater than $2.7 billion for FY 2020 (including leave and pay entitlements remediation).
Suncorp Bank has a sound capital, liquidity, and funding and it benefits from the SUN’s A+ credit rating.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.