Auswide Bank (ASX:ABA) Managing Director, Martin Barrett, discusses the company's FY17 Results, loan book and strategy.
Auswide Bank (ASX:ABA) Managing Director, Martin Barrett presents at FNN Investor Event on growth outside its QLD base, peer-to-peer lending and credit quality.
· Auswide Bank (ASX:ABA) formed in 1966 was formerly known as Wide Bay Australia. It was Australia’s 10th bank listed on the Australian Securities Exchange. Its head office is in Bundaberg, Queensland.
· Now has about $3.6 billion in assets and loans under management
· Acquired controlling interest in MoneyPlace in 2017
· Loan book around Australia
o home loan growth to see strong second half
o Mortgage lending book to grow by 5%
o Statutory profit up 30% to $15.149m in FY17 on FY16, underlying rose 11.4%.
o Underlying costs to income ratio down to 3.5%
o Underlying return on equity 7.2%
o Total dividend 31cents per share.