Judo Praises Broker Channel in Half Year Results Outperformance
(27 February 2023 – Australia) Small business lender Judo Bank has commended the impact of brokers on the group’s successful interim 2023 results release.
Judo Bank reported profit before tax of A$53.2 million, underlying Net Interest Margin (NIM) of 3.56 percent and a Return on Equity (ROE) of 5.05 percent.
“The third-party channel is absolutely important, critically important to us” Judo Bank CEO and Co-Founder Joseph Healy stated to The Adviser.
“We, from the very beginning, said that we want to have our relationships with [the] broker community [as] strategic partners. We wanted to select a number of brokers, not to do business with everybody”
“We’ve got a very strong third-party team that is not included in the banker numbers; about 30-odd people in the third-party team managing our relationship, or providing our relationship, with brokers. We've got one of the best third-party executives in the market in George Obeid who heads our team” Mr Healy added.
Subscribe