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Judo Bank (ASX:JDO) hits the ASX, here's how it differs from the big four

The youngest Aussie bank on the ASX has made its entrance…

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The first bank to list on the ASX in 30 years has successfully made its journey to the milestone moment today. Judo Bank, also known as Judo Capital Holdings Ltd (ASX: JDO) , has cemented itself in history on Monday as the small and medium-sized enterprise (SME) business bank made its debut in the public markets.

Around midday, shares in the freshest bank on the ASX are fetching a $2.16 price tag, up 2.86%. Miraculously, in the space of 5 years, Judo Bank has gone from a PowerPoint presentation to a more than $2.3 billion company in its current state.

Let's put Judo under the microscope and get a sense of where it comes from and how it is different from the big four it hopes to challenge.

Judo Bank's path to the ASX

Since its inception in October 2016, Judo Bank has been on a mission to serve SMEs and be the most trusted SME business bank in Australia. Those ambitions have been shared among an array of key people within the company, not the least of which include co-founders Joseph Healy and David Horney, among other former National Australia Bank Ltd. ( ASX: NAB ) executives.

Judo quickly gained its full banking licence in April 2019, less than three years after setting the wheels into motion. From there, the pace of growth has been exceptional, with the bank catering to SMEs that have been unable to secure lending through the traditional providers.

In turn, the loan book of Judo has flourished, surpassing $4.15 billion of aggregate funding to the SME sector as of 30 September 2021. The business bank experienced a 97% increase in its lending book during FY21 alone. Having grown up from its bootstrapping days, the management of Judo Bank felt it was time for it to join the big leagues on the ASX.

Getting set for the ASX involved Judo raising $657 million through its initial public offering (IPO) . The raising attracted interest from a range of institutional and retail investors at an offer price of $2.10 per share. Incredibly, this implied a valuation of $2.3 billion after achieving 'unicorn' status only 18 months earlier.

As we now know, the $657 million capital raising was successful, along with Judo Bank's ASX debut today.

How does is it different to the big four?

Judo Bank and its management pride themselves on doing banking "as it should be", in the words of CEO Joseph Healy. This is a little ambiguous so let's elaborate on what that means exactly.

The big bank contender has its sights set on the SME market. A place where management believes the big banks have neglected, with cookie-cutter financing and a high barrier to credit for many businesses, unless backed by some form of real estate as security.

Instead, the newest banking kid on the block wants to take a business-first approach. Essentially, dealing directly with SME customers with dedicated relationship managers to understand the business. By doing this, Judo can offer tailored financial solutions for its customers.

Since day one, Judo Bank's purpose has been clear, to be Australia's most trusted SME business bank by bringing back the craft of SME relationship banking. Judo Bank Co-founder and CEO, Joseph Healy

Finally, the newly ASX-listed Judo Bank boasts a 'legacy-free' business model. Instead, opting for cloud-based technology to enable its relationship-centric lending model.

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Australia’s first SME challenger bank, Judo Bank, leverages technology to connect with customers

Judo Bank was established to serve small and medium enterprises (SMEs) lending needs, and has recently been granted a full banking licence that will allow it launch full deposit-taking capabilities. Alex Twigg, co-founder and Chief Information Officer, helped launch the business as the first challenger business bank in Australia. The company “Like most start-up businesses , Judo started as wishful idea that we’d discuss informally —I don’t think any of the founders imagined how fast it would take hold,” reveals Mr Twigg.

“It’s been a rollercoaster ride that has exceeded all of our expectations. We initially raised  around AU$20m worth of seed capital to get the business launched, then followed that with an AU$120m Series A funding round -the second largest pre-revenue raising for a start-up in Australian corporate history.”

Judo Bank’s ‘judo strategy’ outmaneuvers the incumbent banks by using the nimbleness of its modern technology to rejuvenate the dying craft of artisan business lending. 

Judo Bank has built a system that is enables traditional relationship banking backed by modern, legacy-free technology, processes and systems. Lending decisions are based on the performance of the business; not just the value of the available security, or “collateral” that the incumbent banks concentrate on.

When the company was founded in 2016, it was established with a digital technology mindset. The bank uses a clear technology strategy, with nine simple principles to drive how they will operate the entire technology environment. The firm’s nine principles include not owning IT, being open for business with the adaptable Open Architecture and Open Platform , and ensuring its technology is invisible to the consumer. Judo also ensures it is always prepared to embrace change and evolve its security operations, as well as prioritising all it’s clients’ data privacy. The company will also look to the cloud first, will be identity-led, and will take a holistic approach to its solutions whilst always considering the business’s evolution.

“We don't do digital transformation – we do digital. We have built an architecture that is entirely focused on a digital business model that enables human relationships.  There is nothing to transform, we started with a blank sheet of paper and take a do-it-once, do-it-right approach.” Mr Twigg notes.“We have a multi-cloud approach, and we have created an architecture into which all of our applications can run in any cloud, and whichever is the primary cloud, we have a backup in the other cloud,” states Mr Twigg.

Judo uses Microsoft Azure and Amazon Web Services as its cloud providers and has created a role-based, rule-focused, access management infrastructure using Microsoft Azure Active Directory to enable a federated single sign-on environment for customers and staff. “Digital Identity is very important in the ecosystem and is key to having that role-based access and privilege-based security model. Because of our approach we can simply bolt on new products and services, as long as they can support open standards.”

Mr Twigg argues that Judo leveraging the global cloud providers scale has been critical to the company’s world class security infrastructure. The CIO argues that most large banks around the world would not be able to compete with the investment Amazon and Microsoft are channeling into security infrastructure. “If you are architecting from scratch, and you have the benefit of being able to use the modern security platforms available in the cloud, you can probably secure your data better than you can in a significantly more costly on-premise solution with a very blunt firewall round the outside,” adds Mr Twigg. “ It’s a different model that needs a very different mindset to think about how to secure data in the cloud.”

Headquartered in Melbourne with offices in Sydney and Brisbane the company is expanding quickly enabled by technology. As the firm expands, its relationships with its customers strengthen. “ I find it so energizing to be able to just drive straight into writing loans with systems that are so logical and straightforward after years spent time wasting with outdated, clunky, illogical dinosaur era systems,” claims Rebecca Evans, a career business banker passionate about making a tangible difference to her clients   businesses.

Mr Twigg is aware of the reluctance of customers within his industry to use banking services. “Banking is boring,” he says candidly. “Ironically, as an industry, we spend billions of dollars a year, trying to create the-best-way, for people to do something they’d rather avoid. It’s frustrating that as an industry we spend so much time and effort trying to make customers do what we want them to do, rather than actually trying to serve customers and helping them do what they want to do. That however is the result of the industrialization of our industry through cost-out pressures.”

In order to appeal more successfully to business owners, Judo aims to make the advanced technology it uses invisible. Mr Twigg argues that “by making the technology a product of the relationship, rather than the driver of the interaction, our customers and bankers can get on a do what they’re best at doing.” “Bankers can build relationships and customers can build their businesses,” he explains. “This is why we say that Judo is not a technology driven fintech, rather a people enabled bank.”

The technologies that Judo uses enable efficiency. “A banker in one of the Australian incumbent banks would have to at least log into, and probably double-key information into, somewhere between 15 and 22 different systems, which has horrible customer service and efficiency implications. We set out to have one ecosystem where all data flows from the front to the back. We would automate data entry wherever humanly possible, and if we couldn't automate it, we would automatically quality check it. So a banker should be able to visit a customer’s place of business, review the books, agree a deal, complete everything on their iphone and send the docs to the customer before leaving the car park.”

Judo has also established a real-time dashboard process that allows customers, bankers and brokers to all collaborate on a deal. Each participant can contact each other and be able to see different levels of data depending on who they are and what access privileges they have. “It means that if a broker sends a deal to Judo, when the banker works on it and needs another piece of information, they can message out to both the broker and the customer simultaneously,” Twigg explains. “If the customer sees that message before the broker does, they can send a copy of their driving license, for example. The system will OCR that driving license, automatically check it against government agencies for validity, and automatically use it as part of the customer identity validation process. At every step of the way, all parties are kept fully informed of the progress of the deal.. That's probably a really tangible example of the way we've tried to make the technology invisible.”

As well as working closely with global tech companies Microsoft and Amazon, Judo Bank has achieved significant advances by partnering with a small group of likeminded, customer focused businesses, like Over The Wire , Itoc , JB HiFi Solutions , BankSight , Realtime , Temenos , Vermeg , GTreasury , Domo , RapidID, TSS and Unifii , who they bring together as a team, all actively sharing information and collaborating to optimize Judo’s offering.

Working with Australian telco Over the Wire, Judo Bank has implemented a full IP telephony system with CRM integration onto every banker’s mobile phone and enabled Judo to become one of the first banks in the world to establish a zero-trust-network (ZTN), the foundation of its entirely SaaS operating model. On top of the ZTN, Judo Bank has worked extensively with Itoc, it’s cloud ops partner and TSS our security partner to develop a single role-based access control and monitoring platform using Microsoft Active Directory, B2B (Business to Business) and B2C (Business to Customer) products into which all the SaaS providers ‘plug-in’ to provide a single sign-on for both customers and staff.

Temenos is providing the core banking platform alongside Vermeg and GTreasury, who are providing regulatory reporting and treasury capabilities as a service respectively.

Unifii,BankSight and RapidID have worked closely together to provide a full CRM, onboardingand commercial loan origination system supported by a banker App that facilitates true customer relationships. “ The Contact App, is an interesting piece of technology that effectively automates the capturing of compliance records for any customer banker communication, irrespective of the channel they use. Bringing together voice, email and messaging into a single App, ensuring it can all be instantly retrieved for customer service or compliance needs, ” Twigg said. Domo was one of the very first partnerships developed by Judo Bank and provides near real-time insight into any element of the Judo operation, available to everyone in the company, from their desktop on smart phone. It was also the pre-curser to Judo Data Achieve Vault Environment (DAVE) which is an event based data lake, built in AWS, that captures real-time data and telemetry from every part of the Judo ecosystem and will become the foundation of Judo’s machine learning capability.

As the bank continues to develop, Mr Twigg reveals the challenges Judo Bank is yet to face: “ If you're game enough to have the idea of starting your own bank, then you have to be prepared to face new challenges that you never expected, every day. It's a big mountain to climb, but it's a lot of fun. Our success will come down to the satisfaction of our customers and our constant focus on trying to get that right. The reason Judo Bank understands small business better than anyone else is because it started as a small business. It is an absolute privilege to work with the Judo technology team, they are the best of the best and make magic happen every day. ”

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Bank of America to Report First-Quarter 2024 Financial Results on April 16

April 9, 2024 at 9:00 AM Eastern

CHARLOTTE, NC – As previously announced, Bank of America will report its first-quarter 2024 financial results on Tuesday, April 16.  The results will be released at approximately 6:45 a.m. ET, followed by an investor presentation at 8:30 a.m. ET.

The news release, supplemental filing and investor presentation can be accessed at Bank of America’s Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings .

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For a listen-only connection to the investor presentation, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international). The conference ID is 79795. Please dial in 10 minutes prior to the start of the call. Investors can also listen to live audio of the conference call and view the presentation slides by visiting the “Events & Presentations” section of the company’s Investor Relations website.

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Peru pension withdrawal unlikely to fuel inflation, says central bank official

A controversial measure in Peru to allow savers to tap savings accounts is unlikely to have a large impact on inflation, a central bank official said on Friday.

Carlos Montoro, monetary policy manager at Peru's central bank, said in a presentation that the funds are more likely to go toward savings or paying off debts, rather than consumption.

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Moscow concert attack: More than 60 reported dead; ISIS claims responsibility

This live blog has ended. For the most recent updates, please click here .

What we know about the Moscow concert attack

• Men in camouflage broke into a Moscow concert hall and opened fire, shooting an unknown number of people, Russia’s prosecutor general said.
• The terror group ISIS has claimed responsibility but did not provide proof of the claim, which was made on ISIS-affiliated news agency Amaq on Telegram.
• Russia's Investigative Committee said that more than 60 people are dead after the attack at Crocus City Hall. Officials have said more than 100 others were injured.
• A fire also started inside Crocus City Hall, a large concert venue northwest of central Moscow. Firefighters have evacuated about 100 people from the basement of the building and efforts are underway to rescue people from the roof, Russian emergency officials said.
• Russia officials said they were investigating the attack as a terrorist act.
• A popular rock band was scheduled to play what appeared to be a sold-out show at the venue, which has a maximum capacity of more than 9,000 people.

Three children among those killed, state media reports

Chantal Da Silva

Three children were among the more than 60 people killed in yesterday's attack at Crocus City Hall, Russian news agency RIA Novosti reported, citing the Russian Ministry of Health.

Officials have warned that the death toll connected to the deadly incident may increase as the investigation continues.

Xi sends condolences to Putin

Chinese President Xi Jinping sent condolences to Russian President Vladimir Putin on Saturday after a deadly shooting at a concert hall near Moscow, saying China opposes all forms of terrorism and strongly condemns terrorist attacks.

China firmly supports the Russian government’s efforts to maintain national security and stability, Xi said, according to CCTV state television. 

Moscow bloodshed comes two decades after some of worst attacks in Russia

Phil Helsel

The shooting attacks in Moscow are the latest in a series of deadly terror attacks in the country since the 2000s.

In 2004, militants from Chechnya and elsewhere took hostages at a school in Beslan in southern Russia.

The militants demanded a withdrawal from Chechnya. Hostages were kept in a gymnasium, and 334 died — half of them children — when gunfire and explosions erupted when it was stormed. Hostages’ families were critical of the rescue operation. Russian prosecutors later cleared authorities .

Two years prior, in 2002, Chechen separatists attacked the Dubrovka Theater in Moscow and took more than 700 people hostage. Russian forces used gas, and 129 hostages died. The attackers were killed.

More recently, in 2017 a suicide bomber from Kyrgyzstan killed 15 people as well as himself in an attack on a St. Petersburg subway. In 2013, two bombers killed a combined 34 people in attacks on a railway station and a trolleybus in Volgograd.

The group Islamic State, also known as ISIS, claimed responsibility for the attacks Friday at the Crocus City Hall venue.

Putin wishes victims well, deputy prime minister says

President Vladimir Putin is thinking of those injured in today’s attack and thanked doctors, a Russian government official said according to state media.

State media TASS reported that “Putin wished all those injured in the emergency at Crocus City Hall to recover and conveyed his gratitude to the doctors, Golikova said,” referring to Tatiana Golikova deputy prime minister for social policy, labor, health and pension provision.

More than 60 dead, and death toll could grow, Russian agency says

Russia’s Investigative Committee said Saturday that more than 60 people have died in the attack, and warned the number may increase.

“The bodies of the dead are being examined. It has been previously established that more than 60 people died as a result of the terrorist attack. Unfortunately, the number of victims may increase,” according to the Investigative Committee, which is a federal state agency.

Russia's Ministry of Internal Affairs and the security agency FSB are continuing to investigate, the committee said in a statement, and weapons and ammunition have been found.

U.S. warned Russia about planned terrorist attack in Moscow, NSC says

Monica Alba

The United States shared information about a potential terrorist attack in Moscow with Russia’s government earlier this month, a spokesperson for the National Security Council said.

The U.S. Embassy in Russia on March 7 warned U.S. citizens to avoid crowds and said it was monitoring reports that extremists might attack large gatherings in Moscow.

“Earlier this month, the U.S. Government had information about a planned terrorist attack in Moscow — potentially targeting large gatherings, to include concerts — which prompted the State Department to issue a public advisory to Americans in Russia,” NSC spokesperson Adrienne Watson said.

“The U.S. Government also shared this information with Russian authorities in accordance with its longstanding ‘duty to warn’ policy,” Watson said.

Putin recently dismissed ‘provocative’ warning about potential attacks

In remarks that aired three days ago, Russian President Vladimir Putin accused the West of “provocative statements” about potential terror attacks in Russia, and dismissed them.

“I’ll remind you of recent, let’s say directly, provocative statements of certain official Western structures about potential terror attacks in Russia,” Putin said.

“All of this looks like obvious blackmail and an attempt to intimidate, destabilize our country,” he said before the state security agency FSB.

Putin in those remarks did not specify a country or warning. The U.S. embassy in Russia on March 7 warned U.S. citizens to avoid crowds .

“The Embassy is monitoring reports that extremists have imminent plans to target large gatherings in Moscow, to include concerts, and U.S. citizens should be advised to avoid large gatherings over the next 48 hours,” the U.S. embassy warned.

Guards at concert hall didn't have guns, state news says

The Associated Press

Guards at the concert hall didn’t have guns, and some could have been killed at the start of the attack, Russian media reported.

Some Russian news outlets suggested the assailants fled before special forces and riot police arrived.

Reports said police patrols were looking for several vehicles the attackers could have used to escape.

U.S. had been gathering intelligence that ISIS could attack Russia

Ken Dilanian

The U.S. had been gathering intelligence for months that ISIS could mount a mass casualty attack in Russia, two U.S. officials confirmed to NBC News.

That information led to a March 7 warning issued by the U.S. embassy in Russia about possible extremist attacks, including at concerts, urging people to stay away from large gatherings, one of the officials said.

That official said the claim of responsibility today by ISIS appears to be genuine, though no final assessment had been made about who was responsible.

Some Moscow concertgoers filmed events as they unfolded Friday night, when gunmen opened fire inside a theater and people ran to take cover in fear for their lives.

Witness says gunfire was first thought to be construction noise

A witness to today’s armed attack on Moscow’s Crocus City Hall told a state news agency that they first mistook the gunfire for sounds of an installation being dismantled.

“First, we started hearing typical loud pops, but it was impossible to understand that they were gunshots. We thought that something was falling, as exhibitions were being dismantled at that moment, and someone seemed to be dropping something large,” Mikhail Semyonov told TASS .

“Then, the bangs were getting more and more frequent. Suddenly, there was a scream, and the bangs started to be heard as bursts. Then it became clear that it was shooting,” he said.

ISIS claims responsibility for attack but does not provide proof

The terror group Islamic State has claimed responsibility for the attack in Moscow.

The group, also known as ISIS, did not provide any proof of its claim, which came from ISIS-affiliated news agency Amaq on Telegram.

The group’s members have carried out a number of terror attacks, including the 2015 attacks in Paris that killed 130 people.

Children among the victims, Russia's children commissioner says

Yuliya Talmazan

Russia’s commissioner for children’s rights, Maria Lvova-Belova, said children were among the victims of tonight's attack.

"Information about their condition is regularly updated," Lvova-Belova said on Telegram. "Any additional assistance will be provided immediately."

She later told Russia 24 TV channel that at least two children had been injured, including one boy with a gunshot wound.

Earlier, Russian officials released a preliminary casualty toll of at least 40 people dead and more than 100 injured.

France, U.K., Germany condemn attack

Officials from France, the U.K. and Germany were among those who expressed their condolences to the victims of the attack at the Crocus concert hall.

"The images of the terrible attack on innocent people in Crocus City Hall near #Moscow are horrific," Germany's Foreign Office said on X . "The background must be investigated quickly. Our deepest condolences with the families of the victims."

"We condemn the terrorist attack in the Crocus City Hall near Moscow," the U.K.'s embassy in Russia said . "This is a terrible tragedy."

Meanwhile, France's foreign ministry called for "full light" to be shed on "these heinous acts."

Public events across Russia called off after attack

Several regional leaders across Russia, including in the annexed Kherson region of Ukraine, have canceled public events this weekend over security considerations after the deadly concert attack in Moscow.

Shortly after the attack, Moscow Mayor Sergey Sobyanin canceled all sports, cultural and other public events in Moscow this weekend. State news agency TASS also quoted Russia's cultural ministry as saying that mass and entertainment events in federal cultural institutions have been canceled in the coming days.

Zelenskyy adviser speaks out about attack

President Volodymyr Zelenskyy’s adviser denied that Ukraine was involved in the deadly Crocus concert hall attack.

“Ukraine certainly has nothing to do with the shooting/explosions in the Crocus City Hall (Moscow Region, Russia),” Mykhailo Podolyak wrote on X. “It makes no sense whatsoever.”

No evidence has emerged to suggest Ukraine may have been involved, but Ukrainian officials may be trying to pre-empt accusations, as some Kremlin hawks have already started pointing at Kyiv. 

Asked whether the shooting was at all tied to the war in Ukraine, U.S. National Security Council spokesperson John Kirby said: “There is no indication at this time that Ukraine, or Ukrainians, were involved in the shooting, but again, this just broke. We’re taking a look at it, but I would disabuse you at this early hour have any connection to Ukraine.”

Videos posted to social media appear to show chaos inside Moscow's Crocus City Hall during and after a terrorist attack.

Some videos include what sound like gunshots and show men with rifles, as concertgoers frantically try to exit the venue.

State Department issues warning to Americans in Moscow

Jason Abbruzzese

The State Department said that the U.S. Embassy in Moscow is aware of the terrorist attack on Crocus City Hall and that U.S. citizens should avoid the area and follow the instructions of local authorities.

"The U.S. government’s ability to provide routine or emergency services to U.S. citizens in Russia is severely limited, particularly in areas far from the U.S. embassy in Moscow, due to Russian government limitations on travel for U.S. embassy personnel and staffing, and the ongoing suspension of operations, including consular services, at U.S. consulates in Russia," the State Department said in a message posted to its website .

'What a nightmare in Crocus,' Widow of opposition leader Alexei Navalny condolences about concert attack

Yulia Navalnaya, the widow of Russian opposition leader Alexei Navalny who died in prison last month, expressed her condolences about the attack Friday.

"What a nightmare in Crocus," Navalnaya wrote on X. "Condolences to the families of the victims and quick recovery to the injured. Everyone involved in this crime must be found and held accountable."

320 firefighters, 3 helicopters working to put out fire

Russia's Ministry of Emergency Situations said the number of rescue crews responding to the attack is growing and now includes more than 320 firefighters, 130 emergency vehicles and three helicopters dumping water on the burning concert venue.

Moscow regional governor says 40 dead, more than 100 injured

Moscow Regional Governor Andrei Vorobyov said on Telegram that at least 40 people are dead and more than 100 injured in the terrorist attack, confirming figures previously reported by Russian state news.

Putin informed about concert venue attack 'in the first minutes,' Kremlin spokesperson says

Kremlin spokesperson Dmitry Peskov said President Vladimir Putin was informed about the shooting at the Crocus concert hall "in the first minutes" of the attack, Russian state news agency RIA reported.

The president is receiving information about what is happening and the measures being taken through all relevant services and is giving necessary instructions, Peskov said according to RIA.

Russian journalist was inside concert venue when gunmen entered

Russian news agency RIA Novosti said on Telegram that one of its reporters was inside the venue when gunmen entered and began shooting concertgoers.

The journalist said that at least three unmasked gunmen in camouflage entered the hall a few minutes before 8 p.m. Moscow time. They shot people point-blank and threw incendiary bombs, according to the journalist.

Russia's foreign ministry spokesperson calls incident 'bloody terrorist attack'

Maria Zakharova, spokesperson for Russia's foreign ministry, called the Friday night incident at the Crocus City Hall in Moscow a "bloody terrorist attack" as she called for "strong condemnation" from the international community.

"Now, as the Russian authorities have stated, all efforts are being devoted to saving people," Zakharova said. "The entire world community is obliged to condemn this monstrous crime!"

U.S. national security spokesperson says embassy has told Americans to avoid large gatherings in Moscow

Kyla Guilfoil

National Security Council Spokesman John Kirby addressed the attack in Moscow at a White House press briefing Friday afternoon, calling it a “terrible, terrible shooting attack.”

“The images are just horrible and just hard to watch and our thoughts obviously are going to be with the the victims,” Kirby said.

Kirby added that the U.S. embassy has notified all Americans in Moscow to avoid large gatherings, concerts, shopping malls, etc., and “stay put where they are” for their safety.

Russian media says 40 dead, more than 100 injured at concert attack

TASS, Russia's state-owned news agency, and RIA Novosti are reporting that Russia's FSB security agency has put the preliminary casualty count at 40 dead and more than 100 injured by a terrorist attack on a Moscow-area concert venue.

NBC News has not confirmed those casualty numbers.

Roof of concert venue at risk of collapse, Russian media says

Russian news agency RIA Novosti said on Telegram that the roof of the building near the concert venue's stage has begun to collapse.

Video posted to Telegram by RIA Novosti showed fire continue to blaze inside the venue.

Moscow area governor says more than 70 ambluances at scene of attack

Andrei Vorobyov, Moscow's regional governor, said on Telegram that more than 70 ambulances have been dispatched to the scene of concert venue attack.

“Everything is being done at the scene to save people," he wrote in the Telegram message. "The Special Rapid Response Unit (SOBR) has been deployed. There are over 70 ambulance carriages near Crocus, doctors provide the necessary assistance to all victims."

Nigel Chiwaya

Russia’s prosecutor general office says number of victims still being determined

Russia's prosecutor general said on Telegram that officials are working to determine how many people have been killed or hurt in the concert attack.

“On behalf of Igor Krasnov, the prosecutor of the Moscow region has gone to the scene of the incident at Crocus City Hall to coordinate the actions of law enforcement agencies," the prosecutor general's Telegram account posted. "Tonight, before the start of the event in the concert hall in Krasnogorsk, unknown men in camouflage clothes broke into the building and started shooting."

"The number of victims is being determined, a fire started in the entertainment center building, and citizens are being evacuated."

Moscow's mayor cancels weekend events

Moscow Mayor Sergei Sobyanin said on Telegram that he was canceling all public events in Moscow this weekend.

"I have taken the decision to cancel all sports, cultural and other public events in Moscow this weekend," he said. "I ask of you to treat this measure with understanding."

Popular rock band was to play sold-out venue that can hold 9,500

Tim Stelloh

A popular rock band was scheduled to play what appeared to be a sold-out show at the Moscow concert hall where there were reports of gunmen in combat fatigues opening fire.

Picnic, formed in 1978, was to play at Crocus City Hall, west of central Moscow.

The multilevel facility in Krasnogorsk has a maximum capacity of 9,527 people. Booking sites show the event was sold out.

Russia's aviation agency says additional security added to Moscow airports

The Russian aviation agency Rosaviatsiya said that additional security measures are being introduced in Moscow airports

"Due to increased security measures, we ask passengers to arrive at Sheremetyevo, Domodedovo, Vnukovo and Zhukovsky airports in advance," the agency said on the Telegram messaging app.

Moscow's emergency ministry says it is working to extinguish fire

Moscow’s emegency ministry said it was working to extinguish a fire that began at the music venue.

The ministry said about 100 people were evacuated from the building, and it was working to rescue people from the roof.

Russian media says state security taking action

Russia's news outlet RIA Novosti said that the country's security agency, the FSB, is taking measures to respond to the shooting at a concert hall near Moscow.

Videos posted by Russian media show men with rifles moving through area

Extended rounds of gunfire could be heard on multiple videos posted by Russian media and Telegram channels. One showed two men with rifles moving through a concert hall. Another one showed a man inside the auditorium, saying the assailants set it on fire, with incessant gunshots ringing out in the background.

Andrei Vorobyov, the governor of the Moscow region, said he was heading to the area and set up a task force to deal with the damage. He didn’t immediately offer any further details.

Russian media reports said that riot police units were being sent to the area as people were being evacuated.

Russian news outlets report gunman opened fire at Moscow concert hall

Several gunmen in combat fatigues burst into a big concert hall in Moscow on Friday and fired automatic weapons at the crowd, injuring an unspecified number of people, Russian media said.

Russian news reports said that the assailants also used explosives, causing a massive blaze at the Crocus City Hall on the western edge of Moscow. Video posted on social media showed huge plumes of black smoke rising over the building.

Russia’s state RIA Novosti news agency reported that at least three people in combat fatigues fired weapons. The state Tass news agency also reported the shooting.

U.S. warned of imminent Moscow attack by ‘extremists,’ urges citizens to avoid crowds

Patrick Smith

U.S. citizens in  Moscow  had been warned to avoid large gatherings earlier this month because of heightened fears of a terrorist attack.

The U.S. Embassy in the Russian capital said it was “monitoring reports that extremists have imminent plans to target large gatherings in Moscow, to include concerts, and U.S. citizens should be advised to avoid large gatherings over the next 48 hours.”

U.S. citizens should avoid crowds, monitor local media for updates and “be aware of your surroundings,” it said in a brief  online update .

Read the full story here.

Capital Notes

On 23 October 2023, Judo Capital Holdings Limited (Judo) announced an offer to raise $75 million through the offer of new perpetual, subordinated, and unsecured securities called Judo Capital Notes (Capital Notes), with the ability to raise more or less (Offer).

The Capital Notes were issued on 16 November 2023, and began trading on the Australian Securities Exchange (ASX) on 17 November 2023 under the ASX code "JDOPA".

The Capital Notes are fully paid, unsecured, non-cumulative, perpetual, convertible notes which will pay, subject to the terms of the Capital Notes and Judo’s discretion, floating rate quarterly distributions which may be unfranked, partially franked or fully franked. The level to which distributions are franked may vary over time and depends on a number of factors including Judo’s available franking account balance and Judo having sufficient distributable profits.

The Capital Notes qualify as Additional Tier 1 Capital of Judo under APRA’s Prudential Capital Requirements.

Important documents:

• Investor Presentation
• Target Market Determination
• Launch announcement
• Judo Constitution
• Class Ruling

Distributions – Past / Upcoming Payments: