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Media Release

BankSA delivers solid growth across home and business lending   

Monday, 5 November 2018

BankSA today announced a net profit after tax of $229 million for the year ended 30 September 2018.

The result was underpinned by solid growth across both home and business lending, particularly small business lending.

Key highlights include:

  • Home lending up 7%
  • Business lending to small business up 10%
  • Total business lending up 5%
  • Deposits increased 3%

BankSA Chief Executive, Nick Reade, said the result demonstrated the bank’s above average growth in key focus areas in the South Australian market.

“Over the past year, BankSA has generated customer growth at twice the rate of population growth1 in this state,” Mr Reade said.

“I am particularly pleased that this growth has spanned both home and business lending.

“This reflects our focus and determination to support more South Australians into their own homes, and encourage more businesses to start and invest here.

The small to medium business sector was particularly strong for BankSA, with a 10% increase in lending compared to the same period last year.

“Small business is integral to the South Australian economy so it has been encouraging to see increased confidence and activity in this part of the market.”

BankSA also expanded its graduate intern program, providing valuable skills and opportunities to young South Australians at the beginning of their careers.

“We’re focussed on helping our economy to grow, both now and into the future, and that includes supporting talent, ideas and businesses in our state.”

Customer experience

Improving customer experience continues to be a key focus, regardless of how customers choose to do their banking.

“We’ve invested $9.4 million into our branch network to increase our physical presence at key sites and provide a better in-branch experience for our customers.

Branches in Rundle Mall, Unley, West Lakes, Arndale and Norwood were either moved to new, more convenient sites in key shopping centres or were fully refurbished.

BankSA also increased convenience with an innovative new online and mobile alternative to the traditional home loan application that enables customers to apply for a mortgage via their smartphone or tablet, with real-time feedback and best available rate provided to them.

“We understand that many of our customers are busy and need flexibility,” said Mr Reade, “so we are pleased we can now offer a state-of-the-art online solution, to complement our personal service in branch.”

BankSA was also the first bank in South Australia to be recognised as dementia-friendly, in partnership with Dementia Australia, to help people living with dementia remain financially independent for as long as possible.

“We’re committed to supporting all our customers and I’m proud that we have been able to make banking safer, easier and more accessible for more South Australians.”

Closer to local communities

The BankSA Foundation, which is driven by staff donations, contributed more than $292,000 to small organisations making a big impact in the community.

This included the Foundation’s largest ever grant of $170,000 to local charity Backpacks 4 SA Kids to provide more than 1,200 home starter packs over three years to families displaced by domestic violence or escaping homelessness.

“Our staff are passionate advocates for their customers and communities, so it was wonderful to celebrate BankSA’s 170th year with this grant that will make a big difference to South Australians in need.”

BankSA’s fundraising through Vinnie’s CEO Sleepout contributed $172,000 – the largest contribution nationally, for the second year in a row – to help women in crisis. This brings the amount raised over the past five years to more than $655,000.

“As a South Australian bank, we’re committed to supporting our local communities and this year we’ve increased that support even more,” said Mr Reade.

BankSA was awarded the 2018 Premier’s Award for Corporate Social Responsibility for ‘invaluable contribution to supporting the South Australian community’.


1Source: Australian Bureau of Statistics (