Skip to content
Banking

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

Media

More from this category

  • Banking
  • 22/05/2024
  • 05:22
Naehas

Naehas and Itea P2B AB Partner to Bring Enhanced Value to Financial Services Billing and Disclosures

The new joint venture expands access to services like disclosure management and billing functionalities for bank clients. PALO ALTO, CA / ACCESSWIRE / May 21, 2024 / Naehas , the leader in the financial services customer experience cloud space, is partnering with Itea P2B AB (Itea P2B), a Nordics-based fintech company, bringing each other's solutions to their respective markets.Naehas and Itea P2B AB Partnership Naehas and Itea P2B AB Partnership - Company logos This global partnership will allow banks to leverage new functionalities, using Itea P2B's billing capabilities as an integrated Naehas solution, made possible through Naehas' flexible architecture.These new…

  • Banking
  • 15/05/2024
  • 10:47
Banking Code Compliance Committee

Banks’ work with vulnerable customers under scrutiny

The Banking Code Compliance Committee (BCCC) is looking into the way banks deal with vulnerable customers and wants to hear from people who have dealt with a bank while experiencing vulnerability. The BCCC’s inquiry will closely examine compliance with obligations in the Banking Code of Practice regarding customer vulnerability, with customer experience being an important aspect. The Banking Code of Practice cites a range of characteristics relevant to vulnerability, including language barriers, socioeconomic constraints, age-related concerns, and instances of abuse or health challenges. Chair of the BCCC, Ian Govey AM, noted the importance of hearing from customers for the inquiry.…

  • Banking, Finance Investment
  • 09/05/2024
  • 08:01
Caleb & Brown

Potential Ethereum Spot ETFs an Exciting Proposition

Caleb & Brown CEO’s thoughts on the Impact of ETFs on Cryptocurrency Exchange-Traded Funds (ETFs) have evolved from a niche investment option to become…

  • 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.