Powered by MOMENTUM MEDIA
subscribe to our newsletter
Building society announces name change

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

A big four bank has announced that it will cease accepting new SMSF commercial applications unless customers meet new criteria and that it w...

The Federal Court of Australia has for the first time been given jurisdiction over corporate crime and a $35 million funding boost to suppor...

The prudential regulator has released its revised standard on credit risk management requirements for ADIs, which has undergone no major rev...

FROM THE WEB
podcast

LATEST PODCAST: Changes at the lenders continue

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?