HomeView 2016 Media ReleasesConsumers backing customer owned banking

The latest quarterly figures from APRA released today illustrate the strength of the customer owned banking sector and its attractiveness to Australian consumers.

The latest quarterly figures from APRA released today illustrate the strength of the customer owned banking sector and its attractiveness to Australian consumers.

APRA data shows the customer owned sector now has $103.5 billion in assets with growth of 2.6% for the last quarter, compared to 0.8% domestic market growth for the major banks.

“The APRA results are great recognition of our sector’s strong performance, customer focused banking products and market leading service,” COBA CEO Mark Degotardi said.

“Our focus on continued investment in better products and services, innovation and strategic partnerships is paying off.

The table below summarises the key results for the latest quarter:

Table 1: Domestic Market, Quarterly Growth Figures, September 2016

Quarterly Growth

 

September 16

Customer Owned ADIs

Major Banks

System

Total Assets

2.6%

0.8%

0.9%

Housing Loans

2.1%

1.6%

1.3%

Household Deposits

2.8%

2.9%

2.8%

Sources: APRA, RBA

“It’s pleasing that our customers are giving their strong backing to our sector,” Mr Degotardi said.

Roy Morgan Research (RMR) figures show our customers not only like what we’re doing but are highly likely to become advocates and recommend their customer owned banking institution to friends and family.”

As one example, Mutual Banks had an overall customer satisfaction of 91% in October, well above the big four’s average (79.5%) and satisfaction ratings for other listed banks. The average proportion of ‘very satisfied’ customers is 56.3% for mutual banks, while among the big four is only around a third (32.4%).

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For more information please contact:

Daniel McDougall, Senior Manager – Media and Communication

02 8035 8444 or 0407 637 541, This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Customer Owned Banking Association is the industry body for credit unions, building societies, mutual banks and friendly societies.  See coba3.nexusone.com.au

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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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