BankSA sees good business lending growth
(6 November 2007 – Australia) St George Bank owned Bank of South Australia (BankSA) has posted a A$241 million annual profit before tax for the year ended 30 September, up 12.6 percent on the previous year.
BankSA managing director Rob Chapman said the bank had a simple strategy of engaged staff and a positive customer experience, which was underpinning its financial performance.
BankSA said it had diversified its portfolio over the past five years by moving more into commercial lending and that this part of the business now accounted for 42 percent of the bank’s overall lending book.
Lending to middle markets companies grew 23 percent over the past financial year.
The bank also highlighted its private bank, saying it had doubled its assets since it was launched in mid 2005 and grown 24 percent over the past 12 months.
Chapman said the bank was confident about the year ahead though flagged the drought as something the bank was monitoring on a daily basis given that half of BankSA branches are in regional areas.
BankSA said it had diversified its portfolio over the past five years by moving more into commercial lending and that this part of the business now accounted for 42 percent of the bank’s overall lending book.
Lending to middle markets companies grew 23 percent over the past financial year.
The bank also highlighted its private bank, saying it had doubled its assets since it was launched in mid 2005 and grown 24 percent over the past 12 months.
Chapman said the bank was confident about the year ahead though flagged the drought as something the bank was monitoring on a daily basis given that half of BankSA branches are in regional areas.
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