MyState continues to gain traction.
Just months after scooping up Auswide Bank, Tasmanian-based MyState Limited – which includes the MyState Bank, Selfco, TPT Wealth and now Auswide Bank brands – is growing its broker channel and loan book.
On Tuesday, MyState revealed its full-year results for financial year 2025, or the 12 months ending 30 June, revealing that MyState's residential home loans had grown 62% to $12.9 billion during the reporting year. Roughly $8.3 billion of those loans were at MyState Bank and $4.6 billion at Auswide. Post merger, the total loan book grew 7.5% on an annualized basis.
In addition, the firm had $3.8 billion in mortgage applications and $2.3 billion in settlement throughout the 2025 financial year, with a greater number of both applications lodged and settlements in the back half, post-merger period.
“In FY25, we completed a transformational merger, delivered synergies and maintained a disciplined approach to integration," said MyState managing director and CEO Brett Morgan (pictured above). "We also successfully executed key initiatives to grow the business and maintained a clear focus on delivering value to shareholders and customers.”
The group's results come after the February merger of MyState and Queensland-based Auswide Bank. Since then, the lender has been actively working to grow its broker channel. In July, MyState hired Mark Woolnough as group head of broker, a position that puts him at the helm of the third-party distribution teams at both MyState and Auswide.
Morgan added that the group has been directing resources toward digital upgrades and strategic partnerships to support its growth ambitions. For example, over the past year, the bank transitioned all retail customers to a new digital banking platform.
