Auswide Bank Ltd FY22 Result
Continued momentum in changing macro environment
• Statutory Net Profit After Tax (NPAT) of $26.132m, up 8.2%
• Statutory Return on Equity (ROE) of 9.8% (Regional Bank leader)
• Loan book growth of 7.3% to $3.855b
• Net Interest Margin (NIM) of 194bps, down 6bps on FY21
• Cost to income ratio of 61.1%, up from 60.1%
* All figures compare FY22 to FY21 unless otherwise indicated
Auswide Bank Ltd (ASX: ABA, “Auswide”) today released its results for the full year ended 30 June 2022 (FY22). Established in 1966, Auswide offers Australians an extensive range of personal and business banking products and services via an omni-channel distribution strategy which includes branches, strategic relationships and online & digital
channels. Auswide has a strong legacy in regional Queensland, and a growing customer base in Southeast Queensland, New South Wales and Victoria.
Auswide Bank’s Managing Director Martin Barrett said: “Following several years of record profit growth FY22 has continued this positive trend. NPAT of $26.132m was up 8.2% on pcp, driven by strong home loan growth and margin management. Through the year we have continued to expand our broker distribution and our Private Bank capability. We are more nimble than our bigger competitors and we are able to quickly seize opportunities in the competitive banking landscape including the roll out of new technologies which have provided new distribution possibilities and efficiency benefits.”
“We have continued to build strong momentum in the face of a volatile macroeconomic environment. Despite increasing inflationary pressures, the Queensland economy and housing market remains active. We anticipate the continued RBA
