Auswide banks on Maroons to drive market growth


Auswide is banking on its partnership with Queensland Rugby League to drive business growth in the priority Sunshine State market.

Announcing its half-year results last week and a dividend of 16 cents, the Bundaberg-based company told investors the partnership would enhance brand recognition.

In November, QRL announced Auswide as a major sponsor. The bank will feature on the front of the Maroons jersey for State of Origin and will be naming sponsor of the Mal Meninga Cup and under 18 representative sides until 2021.

Auswide chief executive Martin Barrett said at the launch this was the most significant development for Auswide since the 52-year-old institution became a registered bank in 2015.

“The partnership with the Queensland Rugby League enables us as a bank to have a large footprint across the state, with the ability to engage with a thriving Maroon Membership base as well as more than 66,000 participants and 460 community clubs,” Mr Barrett said.

“The Maroons are an exalted brand in Queensland. For a three-month period they dominate the Queensland sporting media and rally Queenslanders like no other team, brand or business.”

Queensland focus for growth

The brand development strategy was echoed at the investor presentation on Friday, with the stated focus on growing market share in Queensland.

The company has identified opportunities in the residential mortgage sector, online applications and targeted deposit growth “through first-party and digital channels”.

In its half-year results Auswide reported a 4.9 per cent increase in its loan book and a 1.4 per cent rise in net interest revenue. Customer deposits climbed 4.5 per cent in the six-month period.

Outstanding arrears performance was reported as “well below peers and trending downwards”.

The ex-dividend date is 28 February, payable on 25 March.