MyState Limited (ASX: MYS) held its Annual General Meeting (AGM) on 20 October 2026, reporting a robust financial performance for the 2026 financial year. MyState Limited is an Australian financial services company, offering banking products and services through MyState Bank, alongside wealth management and trustee services. The company announced underlying earnings per share (EPS) of 34.3 cents, up 11.7%, and underlying Net Profit After Tax (NPAT) of $58.3 million, a significant rise of 41.2%. A final dividend of 12.5 cents per share was declared, an increase of 1.5 cents. Higher-return businesses now contribute 11.3% of Group profit, improving from 6% in FY25.
Operationally, MyState achieved total loan book growth of 7.2% to $14.0 billion and customer deposits increased by 4.0% to $10.6 billion. Growth was notable in home lending, up 5.8% to $13.6 billion, and a substantial 134% increase in equipment finance to $371 million. Trustee Services funds under administration also grew by 17.6%. The company highlighted that its merger continues to deliver value, having realised $11.8 million in run-rate synergies. Integration remains on track, with the FY28 synergy target of $20-$25 million unchanged, aiming for double-digit EPS accretion.
During the AGM, shareholders considered several key resolutions. These included the re-election of Directors Warren Lee and Andrea Waters, both of whom received strong indicative support from proxy votes. The Remuneration Report for the year ended 30 June 2026 was also presented for adoption. Additionally, approval was sought for the issue of up to 175,439 unlisted performance rights to Managing Director and CEO, Mr Brett Morgan, for the 2027 financial year. Proxy figures consistently indicated significant shareholder support for all proposed resolutions, with the Chair confirming his intention to vote open proxies in favour.
