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Briefs: Beforepay CFO resigns BOQ completes NZ asset sale

Beforepay chief financial officer Michael Bencsik has resigned to take up a CFO role at another financial institution. Bencsik’s last day at the pay advance company will be June 28. He leaves with Beforepay in the black, after reporting its maiden half-year profit in the December half.

 

Bank of Queensland has completed the sale of its New Zealand commercial loan and lease portfolio to UDC Finance Ltd. The bank said the sale of the NZ$238 million portfolio, which is part of its business simplification program, resulted in a loss of around A$20 million that will be recognised in the first half of the 2023/24 financial year. The portfolio represented less than 0.5 per cent of BOQ’s total loans and advances.

 

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