Banker over­whelmed by new suc­cess

Townsville Bulletin - - NEWS -

NEW kid on the block Auswide Bank is mak­ing a push into Townsville, but if you want the coun­try’s low­est vari­able home loan rate of 3.99 per cent you will have to be quick.

The bank’s man­ag­ing di­rec­tor, Martin Bar­rett, in the city yesterday meet­ing with staff and busi­ness lead­ers, said they were be­ing over­whelmed.

“Noth­ing is bet­ter for mar­ket­ing than go­ing out with a su­per- duper rate,” he said. “But we can’t keep it for long be­cause we are be­ing over­whelmed.

“We will prob­a­bly keep it open un­til Au­gust 14 and then look at what our next po­si­tion will be.”

Auswide, pre­vi­ously the Wide Bay build­ing so­ci­ety, be­came Aus­tralia’s 10th bank in April af­ter gain­ing share­holder and reg­u­la­tory ap­proval.

The bank has been busy mak­ing in­roads into boom­ing cap­i­tal city mar­kets.

About 20 per cent of its $ 2.4 bil­lion home loan book is now in Syd­ney and Mel­bourne.

But Queens­land is its main fo­cus with Bris­bane, the Sun­shine Coast and the Gold Coast its big­gest growth mar­kets and Mackay its big­gest mar­ket be­cause of an as­so­ci­a­tion with the for­mer Mackay Per­ma­nent Build­ing So­ci­ety.

Mr Bar­rett said Townsville and Cairns were log­i­cal places for fur­ther growth.

Led by new Townsville man­ager Derrick Evans, Auswide wants to more than dou­ble the cus­tomer base here of around 4000 and build its busi­ness lend­ing.

“I am quite bullish about Townsville,” Mr Bar­rett said. “It has a di­verse econ­omy and is well sup­ported by gov­ern­ment agen­cies.

“Townsville has rea­son about the fu­ture.”

to

feel

quite

pos­i­tive

Pic­ture: ZAK SIM­MONDS

BULLISH OUT­LOOK: Auswide Bank CEO Martin Bar­rett says there is noth­ing bet­ter than go­ing out with a

‘ su­per- duper’ rate.

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