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.