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Bank of Melbourne off to a good start

by Staff Reporter11 minute read
The Adviser

Staff Reporter

The Bank of Melbourne is enjoying stellar growth just four months after its official launch in July.

The lender's chief executive Scott Tanner said the feedback from both the industry and Australians had been overwhelming.

"If we look at the response from our media partners, they can see an enormous opportunity to grow with us," Mr Tanner toldThe Adviser.


"In terms of staff, we have had over 15,000 job applications for the positions we have had available, which is an extraordinary response. On top of that, we have employed 150 people since March and we will continue to employ moving forward."

Mr Tanner said the mere fact that the bank had more than 15,000 people apply for their 150 available job positions suggests the Bank of Melbourne brand and proposition resonates well with the community and will do well in the future.

"Finally, I am pleased to say we are also enjoying overwhelmingly positive feedback from our customers. The monthly average number of customers that have joined us since launch has doubled since prior to launch," Mr Tanner said.

"In addition, the number of accounts being opened has doubled month on month since July."

Mr Tanner said these results prove the bank already has a strong foothold in the market and will continue to invest in both its direct and third party channels moving forward to ensure its doesn't lose its current grip.

"The third party channel is critically important to use. We understand that more than 40 per cent of Australians want to use a broker for their home loan needs and we want to do what we can to foster those relationships and help that percentage grow," he said.

"As such, we are currently in the process of recruiting a large number of BDMs to help support our broker network."

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