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.

“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 logo

Latest News

Wealth management specialist Geoff Lloyd has been announced as the new chief executive of MLC, following NAB’s decision to exit its wealth...

Not a single bank boss made it into the top 10 list of the Australian Council of Superannuation Investors’ CEO Pay survey for 2017–18. ...

The removal of APRA’s “redundant” cap on investor lending is unlikely to prompt a rebound in investor credit growth amid continual sof...

Promoted Stories

podcast

LATEST PODCAST: Wayne Byres on mortgages, trusted brands and broker remuneration

Do you expect access to credit to get harder this year?