Helping our customers through a challenging year

Today we are announcing our full year results – a key milestone for us, and an important moment to reflect on the bank’s efforts to support our customers and our community.?

As many Australians have been challenged by rising rents and house prices, inflation and the increasing cost of living, we’ve stayed focused on how we, as a bank, are best able to help them. That includes:?

• Lending to almost 3% of all Australian first home buyers across the year, aligned to our purpose of helping all Australians to own their own home
• Offering competitive savings products that ranked in the top 5 market rates over 90 times during the year, and
• Creating thousands of payment plans to help customers who needed additional flexibility with their loan repayments in light of the changing economic conditions.

Our Net Profit after Tax of $44.5 million is in line with what we made pre-Covid, and will be reinvested back into the bank to grow our business and benefit our customers. These profits will help us continue to introduce more Australians to customer-owned banking, and support our growing customer base?of over 401,000 Australians (up 5% on a year ago).?

We’ve also taken some big steps on our journey as a sustainable, responsible bank. Among other things, we launched our second Financial Inclusion Action Plan (FIAP) to improve the financial wellbeing of customers, and completed all the actions from our inaugural Reflect Reconciliation Action Plan.?

Finally, customer service is at its best when our team is highly engaged. We’re really pleased to have achieved our highest ever employee engagement score, as measured by Gallup, placing us among the top quartile of all organisations globally.?

These results reflect our best efforts to honour the principles and values we were founded on over three quarters of a century ago. We’re here to serve the customers who own us, to help more Australians to own their own home, and to create a positive impact for our communities, our team members and the environment.