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St George to highlight middle market performance

St George to highlight middle market performance

(27 June 2007 - Australia) St George Bank is heading off on a roadshow in June during which the bank will confirm with domestic investors that it is on track to meet EPS growth targets of 11 to 12 percent in 2007 and 10 percent in 2008. The bank released a summary of its performance in advance of the roadshow, saying middle market receivables growth for the eight months ended May was at 19.4 percent annualised, "with a healthy pipeline that supports the target of growth at twice system for the year ending 30 September 2007".

The bank said it expected system growth for the middle market segment to be 11 to 12 percent for the full year and that annualised growth for the six months ended March was 19.2 percent.

St George said managed funds growth for the eight months ended May was 28.2 percent annualised, reflecting strong inflows and favourable market conditions.

The bank said credit quality remained strong.
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