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Australian retail bank From Wikipedia, the free encyclopedia
Auswide Bank Ltd, formerly known as Wide Bay Australia, was Australia’s 10th bank listed and trading on the Australian Securities Exchange (ASX).[1]
| |
 Auswide Bank Brisbane branch, 2024 | |
| Company type | Public |
|---|---|
| Industry | Banking, financial services |
| Predecessor | Burnett Permanent Building Society (1966) |
| Founded | 2015 as Auswide Bank |
| Headquarters | Bundaberg, Australia |
Number of locations | 16 |
| Total assets | over $5 billion (2022) |
Its head office is located in Bundaberg, Queensland. Auswide Bank has an asset base of over $5 billion.[2]
Auswide Bank has been around for over 57 years and has 16 branches located primarily across the Queensland east coast.
They provide personal banking products and services including loans, savings and investments, insurance, foreign exchange and banking services, with a focus on home ownership for everyday Australians.[3]
Auswide Bank has an Australian Credit Licence and an Australian Financial Services Licence issued by ASIC and is an Authorised Deposit-taking Institution prudentially supervised by the Australian Prudential Regulation Authority.[4]
Auswide Bank’s origins are in the local communities of Queensland's Wide Bay Burnett region.
| 1979 | Wide Bay Capricorn Building Society was formed as the result of a merger between the Burnett Permanent Building Society (based in Bundaberg) and the Maryborough Permanent Building Society, both of which had operated since the 1960s.[5] |
| 1981-1983 | Wide Bay Capricorn amalgamated with the Gympie and North Coast Building Society and in 1983 another merger occurred with the Gladstone-based Port Curtis Building Society.[6] |
| 1994 | Wide Bay Capricorn Building Society Ltd was listed on the ASX.[7] |
| 2000/2001 | Wide Bay Capricorn exceeded $1 billion in assets and loans under management.[8] |
| 2003 | Wide Bay Capricorn was changed to Wide Bay Australia in December following branch expansion and a strong support base in Central and South-East Queensland.[9] |
| 2008 | Mackay Permanent Building Society Limited merged with Wide Bay Australia.[10] |
| 2015 | On April 1, Wide Bay Australia officially becomes Auswide Bank. The decision was made by Wide Bay Australia's board of directors to convert to a bank based on several reasons including the geographic limitations of the Wide Bay name and the added 'security' that banks are perceived to offer.[11]
On December 22nd 2015, Auswide Bank announced a merger with the Brisbane based Queensland Professional Credit Union (trading as Your Credit Union). The merger was completed on May 20th 2016.[12] |
| 2024 | in August 2024 it was announced that Auswide Bank and MyState Financial, based in Tasmaina were seeking a merger [13] |
The company’s corporate head office is located in Bundaberg, Queensland. A corporate office is also based in the Brisbane CBD.
The retail banking channel provides financial services to personal and business banking customers via Auswide Bank branches, mobile lenders, phone and online.
The third-party channel provides loans and associated financial services to customers via accredited mortgage brokers and introducers and deposits to customers via partnerships and deposit brokers.
The private banking channel offers one-on-one expertise with a private banking specialist to enhance and manage clients’ financial priorities and provide a range of financial solutions – from banking and deposits to borrowing and protection.
Auswide Bank supports grass roots initiatives in local communities.
Source:[14]
Auswide Bank’s sustainability goals tend to focus on value creation for customers, shareholders and the communities in which they operate. Their sustainability statements speak to an ethical banking vision with a commitment to doing business responsibly in ways that benefit both customers and communities. Auswide Bank considers sustainability in six key pillars:
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