Australia

Details

  • Industry: Financial Services, Banking
  • Type: Survey report
  • Date: 11/11/2008

Building Societies and Credit Unions (Mutuals) Survey

Building Societies and Credit Unions Survey
KPMG's annual Financial Institutions’ Performance Survey includes coverage of building societies and credit unions.

Financial Institutions Performance Survey

Financial Institutions Performance Survey
KPMG's survey of financial institutions offers a detailed, authoritative review of performance and trends across key sectors of banking and finance.

Building Societies and Credit Unions Survey 2008 

KPMG's annual Financial Institutions' Performance Survey includes coverage of building societies and credit unions.
Building Societies and Credit Unions Survey cover
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Amid the turmoil in financial markets, building societies and credit unions have reported another good set of results in the 2007-08 financial year. Profits increased by 6.2 percent for credit unions and decreased by a small 2.9 percent for building societies. This solid result was built on a foundation of asset growth and continued low bad debts.

 

Importantly, funding from customer deposits largely matched asset growth, with growth of approximately 10 percent for both building societies and credit unions.

 

In summary it has been a year in which the mutual sector has again performed well, largely by operating conservatively in the markets it knows well.

 

 

Banking

KPMG’s banking practice in Australia is well placed to help clients successfully navigate challenging times and capitalise on opportunities.