Chairman’s Report
Auswide Bank continued to improve its customer service skills and capabilities during the year, which supported continued organic growth momentum and a solid financial performance.
I am pleased to report that Auswide Bank’s financial performance in 2015/16 represents another year of improvement, with a 2.8 percent increase in underlying cash Net Profit After Tax (NPAT) to $14.041 million for the consolidated group.
Statutory NPAT for the consolidated group was $11.699 million, compared to the 2014/15 figure of $13.262 million. This figure was impacted by one-off expenses totalling $3.788 million (before tax) including merger and acquisitions costs of $2.836 million, $848,000 for branch rationalisation and rebranding expenses, and other professional costs.
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