Auswide Bank Ltd
(ASX:ABA) has operated for over 50 years and is Australia's 10th bank with assets under management of approximately $2.8 billion. Originating in regional Queensland, Auswide now has a national wide lending presence.
Some highlights from the Bank's FY16 results were: underlying cash NPAT rose 2.8% to $14 million, loan book increased 14.4% to $2.67 billion, and net interest revenue was up 6.1% to $53.89 million.
Auswide Bank entered a strategic merger with Your Credit Union (YCU) in May 2016, adding over 4,000 new customers and enhancing its South-east Queensland presence, including a Brisbane CBD branch.
The Bank also has a 19.3% equity in Moneyplace -- a fully licensed peer-to-peer lender in the estimated $50 billion Australian P2P market.
