Latitude Financial’s full-year profit plunged as its interest costs tripled, weighing heavily on earnings and forcing the consumer lender to slash its final dividend.
After foreshadowing his departure in August, chief executive Ahmed Fahour said he will now leave by April as current head of Latitude’s money unit, Bob Belan, steps up to succeed him.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
