Australia

Details

  • Industry: Financial Services, Banking, Investment Management, Superannuation
  • Type: Survey report
  • Date: 6/12/2012

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 (Mutuals) Survey 2012 

Australia’s credit unions, building societies and mutual banks (together 'the Mutuals') have faced a testing year in 2012, with a 9.9 percent decrease in operating profit after tax while achieving growth in assets of 4.5 percent.

This year, we also surveyed the Mutuals on the importance of social media, impact of regulatory changes and the need for transformation. The results indicate that the sector is facing a series of complex challenges and opportunities. These are discussed in detail in the report.

 

Key findings

  • Decrease in operating profit after tax of 9.9 percent.
  • Growth in assets of 4.5 percent.
  • Bad debt costs continue to remain low at 0.05 percent of average gross receivables (0.06 percent in 2011).
  • Capital levels remain high with an average capital adequacy ratio of 17.48 percent (17.54 percent in 2011).
  • Deposits and net assets grew at 6.3 and 6.5 percent respectively.

 


 

 

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Banking

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