At our 2017 Annual General Meeting, we were pleased to report that Newcastle Permanent has once again achieved success on many fronts.
As a customer-owned banking organisation, we encourage all of our customers to attend so they can hear about our results, have their say on important matters and share their ideas with us.
If you didn’t get a chance to join us, this short video will take you through some of our performance highlights.
We are proudly 100% owned by our customers, not shareholders, and have been since we started 114 years ago. We believe this creates better outcomes for our customers and communities, without the negative consequences of the profit-maximising cultures of the four major banks.
Again this year, our customers were happier than those of the four major banks^.
Disclaimer: ^ Ratings sourced from Colmar Brunton Customer Satisfaction Survey, June 2017.
It may have something to do with the industry awards we received for outstanding products and services, including more of the highest five-star ratings from Canstar for our home loans than the four major banks combined.
But we didn’t stop there. To better serve current and future generations of customers, we were busy launching a new range of savings and everyday accounts…
…and upgrading our digital platforms, including Internet Banking and Apps to make banking on the go even better.
We invested more than $2m in community events and children’s sport and education programs to help families in our communities lead healthy, active and happy lives.
Our much loved, family-focused Cinema Under the Stars program celebrated 10 years as Australia’s largest free regional outdoor cinema program….
…and our passionate staff gave $60,000 from their own salaries and donated over 600 volunteer hours to help ease the load on local charities.
Plus, the Newcastle Permanent Charitable Foundation provided over $1.6 million in grants to support life-changing projects in our local communities.
Despite intense competitive pressure and a sustained period of record low interest rates, we punched above our weight growing faster than the four major banks in both home loans and customer deposits…
…and delivered a strong $38.9m net profit after tax to reinvest in the business for the future.
This has helped us to become financially the strongest of all significant* customer-owned banking organisations in Australia, based on capital ratios.
Disclaimer: * Total assets of more than $5 billion.
This outstanding performance is all thanks to the continued support of our customers. On behalf of our dedicated team of nearly 1,000 local staff, we promise to continue delivering a better way of banking and meaningful support for our community – because that’s what we’re here for… and we’re here for good.