Hume Bank will announce a $5.3 million pre-tax operating profit for the financial year ending
June 30, 2016.
Hume saw a 14% growth in profit and strong growth in lending, which grew by 7% to $730m. Total deposit balances increased by 6% to $923m. Hume also reached an important milestone of $1bn in assets, customer numbers grew strongly and there was an increase to contributions made to the community.
“This was a very pleasing result given the very competitive market and economic conditions. Our goal isn’t to maximise profit like the big banks, but we must still maintain strong profitability to invest in products and service, while supporting important community causes and meeting prudential requirements” explained David Marshall, CEO Hume Bank.
“These investments ensure that we can provide the ability for our customers to do business with us however and whenever they choose – online, through a branch, home lender, on the phone or in person in a seamless fashion. Our focus on remaining relevant to our customers by investing in capability is our absolute priority, whilst also contributing to the local economy by supporting local suppliers.”
During the year Hume was recognised by independent customer research organisation Mozo People Choice Awards as Australia’s Most Trusted Bank, Australia’s Best Mutual Bank and Australia’s Best Customer Service.