HomeMedia & ResourcesMedia ReleasesCustomer owned sector continues to beat system growth rates

Customer owned sector continues to beat system growth rates


Australians are continuing to turn to a banking model that puts the customer first with the latest APRA quarterly banking figures showing system-beating growth in the customer owned banking industry.

Released today, APRA’s September 2018 quarterly figures reveal solid growth in the total assets held in the customer owned banking sector from $113 billion to almost $116 billion.

Customer Owned Banking Association Chief Executive Mike Lawrence said the figures show that Australians are turning to a model that focused on the customer first.

“After the year long exposure of misconduct at the Financial Services Royal Commission, Australians are looking to banking institutions that put them first.

“With the customer owned model, 100% of profits are used to benefit the customers. Our sector is profit-making but not profit-maximising. We’re not trying to squeeze our customers to please shareholders. We’re not perfect but we are not conflicted about who we are working for.”

APRA’s September 2018 quarterly ADI Performance Statistics also show that:

  • the sector’s deposit and housing loan grow outperformed the major bank and the system on both an annual and quarterly basis
  • this outperformance was significant – growing around double the rate of the major banks over year – the first full year of APRA figures to cover the Royal Commission period
  • deposits in our sector almost reached $99 billion.

Mr Lawrence said that while consumers are continuing to put their faith in the customer owned model, more can be done to create a more competitive banking sector.

“It’s clear that greater competition leads to greater customer outcomes.

“While our sector continues to grow, more needs to be done to improve the regulatory system to make a fairer environment for the customer owned sector to compete against the ‘Big Four’.”

Key benchmarks in the APRA figures are included in the table below.

APRA figures

For more information please contact:

Mick Gibb
Corporate Affairs Manager
+61 2 8035 8444 or +61 423 149 494
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Media Contacts

Mick Gibb
Corporate Affairs Manager
P: +61 2 8035 8444
M: +61 423 149 494
Email Mickcontact-arrow

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