Curtis Banks (“CB”) has driven earnings quality during FY21. Fixed fees now contribute 75% group revenue following a proactive fee increase, with interest now 13% revenue (FY20 22%) – however, rising interest rates present an opportunity. Earnings are a little behind (-5% vs SCMe) with some (now abating) COVID headwinds evident, namely lower activity and in Fintech where client engagement challenges remained. Scheme growth continued irrespective and attrition is normalising. Management is explor ....
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Improving earnings quality, scheme growth sustained
- Published:
31 Mar 2022 -
Author:
Andrew Watson -
Pages:
10
Curtis Banks (“CB”) has driven earnings quality during FY21. Fixed fees now contribute 75% group revenue following a proactive fee increase, with interest now 13% revenue (FY20 22%) – however, rising interest rates present an opportunity. Earnings are a little behind (-5% vs SCMe) with some (now abating) COVID headwinds evident, namely lower activity and in Fintech where client engagement challenges remained. Scheme growth continued irrespective and attrition is normalising. Management is explor ....