18 August 2023 – MyState Limited has delivered a record full year profit for the period ended 30 June
2023, demonstrating strong business momentum.
Core earnings up 30.3% to $57.7 million
Net profit after tax (NPAT) up 20.2% to $38.5 million
NIM down 4 bps to 1.63%
Home lending up 14.1% to $7.8 billion, 2.9x system
Customer deposits up 12.3% to $6.2 billion
New to bank customers up 33% to a record 25,690
Cost to income (CTI) ratio down 440 bps to 64.0%
o Bank CTI ratio down 641 bps to 60.8%
Return on equity up from 7.7% to 8.7%
Earnings per share up 16.8% to 35.5cps
Total capital ratio up 302 bps to 15.43%
Final dividend 11.5 cps, in line with the interim dividend
Managing Director and CEO Brett Morgan said “MyState Limited continued to build momentum as we
deliver on our growth strategy.
“We are delighted to present a FY23 Result that has delivered record customer growth, strong portfolio
growth in home lending and deposits, and a record net profit after tax.”
“The operating environment has changed significantly as the Reserve Bank ha
Record customer growth drives MyState profit
MyState Limited < 1 mins readMedia
More from this category
- Banking
- 28/08/2024
- 02:41
Bahrain Gears Up to Host the 2nd Edition of Fintech Forward in October
The flagship installment of 2024's Transformation Agenda series will be programmed by Economist Impact and hosted by Bahrain Economic Development Board with the support of the Central Bank of Bahrain & Bahrain FinTech BayMANAMA, BAHRAIN / ACCESSWIRE / August 27, 2024 / Bahrain is gearing up for its second edition of Fintech Forward, which will be programmed by Economist Impact, hosted by Bahrain Economic Development Board (Bahrain EDB) and supported by the Central Bank of Bahrain (CBB) and Bahrain FinTech Bay (BFB). The flagship installment of 2024's Transformation Agenda series will take place on October 2nd and October 3rd, 2024,…
- Banking, Finance Investment
- 27/08/2024
- 14:03
CME Group Opens Registration for its 21st Annual Global University Trading Challenge
AUSTRALIA, SydneyAug. 27, 2024 --CME Group, the world's leading derivatives marketplace, today announced that registration is now open for the 21st annual CME Group University Trading Challenge, which will be held fromSunday, October 6, 2024throughThursday, October 31, 2024. Interested students canregisterno later than2 p.m. CT on Tuesday, October 2, where they can also familiarize themselves with the challenge rules and gain additional market knowledge through the wide range of resources available. The University Trading Challenge is an educational, hands-on trading challenge for undergraduate and graduate students from colleges and universities around the world. Competing teams will be student-led or in…
- Banking, Business Company News
- 26/08/2024
- 12:37
How storylines can help businesses communicate climate risks
New research led by Dr Tanya Fiedler, Senior Lecturer and Scientia Fellow at the UNSW Institute for Climate Risk & Response, explores how narratives can help us better understand and communicate the impacts of climate change. With the imminent changes in financial reporting requirements, businesses now need localised data to assess the impact of climate change on their operations, assets, and supply chains. However, the uncertainty of future climate conditions makes it challenging to provide this crucial information accurately. Dr Fiedler’s latest paper, Storylines: A Science-Based Method for Assessing and Measuring Future Physical Climate-Related Financial Risks, addresses these challenges by…
- Contains:
Media Outreach made fast, easy, simple.
Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.