Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Building society announces name change

Wide Bay Australia shareholders have approved a change of name to Auswide Bank at a general meeting.

The Queensland-based lender will now seek consent from APRA to move to bank status from April 1. APRA’s consent is required before it can use the word ‘bank’.

Wide Bay chairman John Humphrey said the name change is an important part of the company’s strategic plan, and was pleased with the support shown from shareholders.

Advertisement
Advertisement

“We will make an announcement to the market about the progress of our application to APRA when appropriate in due course,” he said.

Managing director Martin Barrett said achieving bank status and rebranding beyond the current geographic name is an important step for the company.

“It supports our program of work to re-vitalise our organisation and our desire to be seen as an attractive alternative to the big banks, which combines the strength of a listed, authorised deposit-taking institution with the service ethos of a mutual,” he said.

“It links back to our existing name, which will help ensure the continuity and recognition associated with the Wide Bay name is maintained.”

Building society announces name change
mortgagebusiness

Latest News

According to data analysis agency GlobalData, one in four ADIs could exit the market within the next five years, as unemployment levels rise...

The economic consequences of the coronavirus pandemic have prompted more non-bank lenders to make changes to their credit policies, which in...

LaTrobe Financial has announced it anticipates a “strong and sharp” rebound for the housing market, as well as for employment conditions...

FROM THE WEB
podcast

LATEST PODCAST: The rush to save small businesses

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

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