Centrepoint announces funding agreement with NAB

Centrepoint says the new arrangement with the major bank has a funding facility limit that is “flexible to meet our growth ambitions, with lower rates, fees and capital requirements”.

“The business is well-positioned and we continue to receive strong support from our long-term clients, and we are developing new relationships weekly,” CEO of Centrepoint Alliance Premium Funding, Bob Dodd, said in a statement to shareholders.

“This new, cheaper facility allows the group to progress our growth strategy.”

The announcement comes after Centrepoint rebranded its various businesses together under a single brand with related sub-brands in June as part of moves to simplify its structure.

Centrepoint Alliance Lending and Centrepoint Alliance Premium Funding have combined to become Centrepoint Alliance Lending Solutions, while Centrepoint Alliance Investment Solutions now houses Ventura, vMAPS and platform solutions.

Associated Advisory Practices has been renamed Centrepoint Alliance Licensee Solutions, while Alliance Wealth and Professional Investment Services is now known as Centrepoint Alliance Financial Advice.

[Related: Centrepoint announces changes to executive team]