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Record customer growth drives MyState profit

MyState Limited < 1 mins read

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


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