Auswide Bank Ltd (ASX:ABA) talks FY16 results

Interviews

by Carolyn Herbert

Auswide Bank Limited (ASX:ABA) Chief Financial Officer Bill Schafer discusses the company's FY16 results and outlook.  

Auswide Bank was founded back in 1966 and has celebrated its 50th anniversary this year. The company was listed on the ASX in 1994. We are headquartered in Bundaberg in Queensland and the bank has grown through a series of mergers and acquisitions.

For FY16 the cash underlying NPAT increased 2.8 per cent to just over $14 million and that was on the back of solid loan book growth. The organic loan book growth was 8.9 per cent. EPS was up 0.4 of a cent for the year.

The board resolved to maintain the final dividend of 16 cents for financial year 16. That was the same as the final dividend for the previous financial year and the total dividend at 30 cents was also equivalent to the prior year.  

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.