MyState Bank Announces NPAT Growth of 21%

MyState Bank has announced a 20.9% increase in net profit after taxes as part of strong growth in the financial year that just ended.

The Tasmanian-based bank has enjoyed a strong growth history over the past 12 months, rapidly increasing its offering to brokers on the continent, and early indications show that it is paying off.

While the headline is close to 21% growth in NPAT, the underlying signs are also strong: Mortgage loans were up 6.8% above the system and client deposits were up 13.2% as well.

Those customers were also satisfied: MyState’s Net Promoter Score, a key metric in customer growth, was +47.

Melos Sulicich, CEO and Managing Director of MyState, will hold his last press conference on the results this morning before his retirement in late 2021.

More to follow …

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