Another successful year for Beyond Bank
It’s been another great year for the Beyond Bank Australia Group, with 2013/14 delivering strong results for our business, greater value to our customers, the introduction of new products and continued involvement in our communities.
Our after-tax profit of $23 million will continue to be reinvested back into the business to improve the value we return to our customers.
Our assets under management increased from $3.8 billion to $4.12 billion, and we lent a record amount to help our customers achieve their goals – up 10.6% to $708 million.
The growth we have experienced is a result of an unwavering commitment to returning value to our customers, and our determination that despite unpredictability within the economy, we have remained focussed on providing the best possible service and solutions to our customer owners.
Consistent with our strategy, we invested in our people with further leadership training and customer relationship programs, and we also established and resourced new business units in the areas of community development, digital consumer experience, product development and mobile consulting.
A review of our distribution channel resulted in the introduction of an alternative service model for some areas and investments in branch refurbishments to improve our in-branch customer experience.
We returned $31.8 million in value back to our customers, an increase of 22% on last year. This is the measure identified by Canstar, a specialist research service provider, which measures the monetary benefit that our customers receive by banking with us compared to if they were banking with one of the major banks. This equates to $162 per customer.
Consistent with our customer-first ethos, our customer satisfaction level rose from 95% to 95.9%, and is a testament to our loyal and dedicated staff who deliver the highest level of service to our customers.
Community is at the core of our organisation. As a customer-owned bank we’re committed to making a difference in the regions where we operate. Over the last year we have provided more than $1.98 million in value to local communities through the Beyond Bank Australia Foundation and our numerous other Community activities. Our Community Reward Account provided more than $239,000 to over 170 local charities, community groups and not?for-profits organisations across Australia.
As we look forward to another exciting and successful year with our owners – the 190,000 customers that choose to bank with us – we say thank you for your support.