Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

St George profit up

Staff Reporter 3 minute read

St George today announced a net profit of $1.174 billion for the year to September 2008, a 0.9 per cent rise from 2007.

Cash profit, the bank’s preferred performance measure, which excludes significant items, jumped 13.9 per cent to $1.321 billion.

Paul Fegan, managing director and CEO of St George, said it was extremely pleasing to present such a result.

“To be able to report a record profit and sound credit quality as at September 2008; the completion of a large percentage of our 2009 year term funding; a sub 40 per cent cost-to-income ratio; a 20 per cent growth in deposits; and a sound capital position, underpin the core strength of the organisation.”

Advertisement
Advertisement

John Curtis, the bank’s chairman, said St George’s merger with Westpac would create an even stronger bank moving forward.

Published: 29-10-08

Related articles

ANZ reports fall in profit 23-10-08

NAB profit marginally down 21-10-08

PROMOTED CONTENT


Today's other news

 



St George profit up
default
TheAdviser logo
default

 

more from the adviser
digital home ta Heritage to introduce new origination platform

The non-major bank has teamed up with a credit reporting firm to ...

woman financia counselling ta SA offers free financial counselling to women

At-risk women living in SA will be given access to free financial...

Sam Carrello bc64 WA broker reveals his top tips for hiring staff

Napoleon Finance broker and director Sam Carello has revealed his...

FROM THE WEB