HomeView 2013 Media ReleasesCustomer Owned Banking Industry welcomes APRA figures

Australia's customer owned banking industry today welcomed APRA's publication for the first time of aggregated statistics that better reflect the overall strength and growth of credit unions, building societies and mutual banks.

APRA's new publication Quarterly Authorised Deposit-taking Institution (ADI) Performance includes reporting on mutual banks which previously didn't occur.

APRA's decision to include all institutions in the one report helps to illustrate the diverse and strong value proposition being offered across the customer owned sector.

Figures released today demonstrate encouraging year-on-year growth including:

  • Asset growth of 5.1%
  • Home loan growth of 5.6%
  • Deposit growth of 7.4%

Abacus CEO Louise Petschler welcomed the change to APRA reporting and the continued strong showing of the sector.

"These quarterly reports better reflect our diverse customer owned institutions that offer great value banking services to Australians, including mutual banks," Ms Petschler said.

"It's something we have worked with APRA on to ensure better understanding of the performance and strength of our sector.

"We are pleased APRA recognised the need to further strengthen these reports."

Today's first report shows growth was solid and stable for the March 13 quarter in challenging market conditions.

"The customer owned banking industry will continue to offer a compelling choice for Australian consumers and a genuine alternative to the major banks," " Ms Petschler said.

For more information, please contact:
Daniel McDougall, Senior Adviser – Media
02 8035 8444 ; 0407 637 541; This e-mail address is being protected from spambots. You need JavaScript enabled to view it

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