Regional bank positions itself for broker channel growth

“Clearly many customers are making the choice to use brokers to work with them to select a home loan, and we certainly see opportunity to continue to grow in the channel,” Mr Fennell said.

In doing so, Mr Fennell explained that the regional bank aims to roll out its new lending platform to its broker business “as a first priority”.

“We’re making a significant investment in technology,” he said, adding, “we think that will allow us to move to a position of being competitive, from a technology perspective, with our offering to brokers.

“It’s an area of the business that we continue to invest in, and we look forward to continuing to grow the channel as it’s clearly attractive to many customers.”

Bendigo and Adelaide Bank on growth path

The bank recently agreed to purchase the $1.35 billion of standard residential loans from Western Australia government owned Keystart’s total loan book of approximately $4 billion.

Managing director Mike Hirst said the acquisition demonstrates the bank’s commitment to Western Australia.

“The acquisition complements our existing business in Western Australia and improves our geographic diversification by increasing the proportion of our loan book in Western Australia from approximately 11 to 13 per cent,” Mr Hirst said.

The purchase was formalised with the Western Australian state government last Thursday (29 September) and will be completed by early December 2016.

[Related: Regional bank slashes rates]