• Industry: Financial Services, Banking
  • Type: Survey report
  • Date: 26/11/2013

Mutuals Industry Review

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

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.

Mutuals Survey 2013 

Australia's credit unions, building societies and mutual banks (the Mutuals) are looking to technology and innovation to respond to increasingly tough market that has seen a 1.3 percent decrease in operating profit after tax.
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The survey provides a detailed financial analysis into the Mutuals industry based on analysis of nine building societies, 10 mutual banks and 49 of the largest credit unions authorised by APRA. In addition we surveyed the industry to gain their perspectives on social media, mobile technology, regulation and risk management.


Key findings

  • The sector continues to investment in mobile banking with 79 percent expect to spend more on mobile technology in 2014.
  • Mobile apps are on the increase with 124 percent more mobile apps than last year.
  • Modernising branches is a focus with 30 percent considering stabilising or increasing branches next year.
  • The sector saw a 1.3 percent decrease in operating profit after tax with membership falling by 1.3 percent and branches reduced by 3.6 percent.
  • Capital levels remain high with an average capital adequacy ratio of 17.9 percent.
  • Deposits and net assets grew by 4.2 percent and 6.3 percent respectively.




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Video: Mutuals Survey 2013 summary

Video: Mutuals Survey 2013 summary
Peter Russell, KPMG's Head of Mutuals and Claire Gilmartin in KPMG's Financial Services practice present the key findings of the Mutuals Survey 2013.


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