Auswide Bank (ASX:ABA) talks 1H17 results


by Jessica Amir

Auswide Bank (ASX:ABA) has seen operating for about 50 years. It is a QLD based regional lender and services customers Australia wide.

The bank has $30 billion in assets and a strong loyal and growing customer base.

We think of ourselves as being a small player against the big guys. The advantages are we tend to be more nimble, we are innovative and are highly focused on achieving growth for the organisation.

We saw strong performance in the first half of the 2017 year. Net profit after tax was up by 20.73%. Cash earnings were up just over 7%. The NIM (net interest margin) was slightly down but overall probably outperformed the sector.

We had a strong period of loan growth in the 2016 financial year, which clearly flowed through into the first half of 2017. We’ve have a good, growing consumer loan book of personal loans, both through our own acquisition of new customers, plus the strategic relationship with MoneyPlace. And we have a very strong capital position, which we’ve enjoyed for some years. 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.