Mid year results show Bank of us helps more Tasmanians into homes

Bank of us CEO Paul Ranson has announced the Bank’s half year results for the financial year 2022/2023. 

Mr Ranson said he was pleased with the bank’s strong growth and highlighted by the following key results:

  • Total loans grew at an annualised rate of 11% to $1.19BN
  • Record loan approvals for the half year of $199M
  • Assets grew at an annualised rate of 13% to $1.45BN
  • Corporate credit rating of BBB+ affirmed by Fitch Ratings
  • Launch of the MyHome shared equity home ownership program

“These results show that customers value the products and services being offered by the only Tasmanian owned bank.“ Mr Ranson said.

Bank of us is the exclusive lender for Homes Tasmania’s shared equity program, MyHome. The program reduces the costs for Tasmanians who want to build or buy their own home, because the costs are shared with Homes Tasmania and it requires a deposit of as little as a two per cent.

Launched in July 2022, the program has attracted strong interest from Tasmanians seeking affordable housing with the settlement of the first home under the scheme celebrated in September.

Bank of us Chair Helen Galloway said the program is part of Bank of us’ strategy to help more Tasmanians into homes.

“As a customer owned bank, we reinvest our profits into the business to benefit our customers and the community. The program provides us with another opportunity to give back to our community by helping more Tasmanians to achieve home ownership,” said Ms Galloway.