Auswide Bank and Tasmanian-based MyState Bank, today announced their intention to merge, creating a bank that would span the Eastern seaboard of Australia from Queensland to Tasmania.
The proposed merger of the two successful regional banks will bring together complementary strengths and resources, providing the opportunity for future growth and enhanced customer experiences.
“The merger just makes sense”, said Auswide Bank Managing Director Doug Snell. “Both banks have the same DNA and have been putting customers first for a combined history of over 122 years. Together, we can do even more for our customers, with a wider range of competitive products and a greater capacity to invest in new technology.”
“The new merged entity will continue to provide outstanding customer service here in Queensland and through an expanded footprint, while our employees will find new opportunities for career development within the larger organisation”, said Doug.
Subject to the approval process for mergers of this kind, the proposed merger is targeted to be completed by the end of the year.
More information about the merger can be found on the Auswide Bank website or the ASX website.
About Auswide Bank
Auswide Bank has been helping Australians for over 57 years with an extensive range of personal and business banking products and services issued directly or in partnership with leading service providers via branches, strategic relationships and online and digital channels.
The Bank’s head office is located in Bundaberg, Queensland.
Auswide Bank believe that it's the small things that make us different and can make a big difference for our customers and communities.
About MyState Ltd
MyState Bank is a retail bank with a proud local history that goes back more than 65 years, providing a range of financial products and services to individuals and businesses.
The Bank’s head office is located in Hobart, Tasmania.
The bank offers personal banking services including savings accounts, home loans, personal loans, term deposits, and insurance. They also provide business banking services such as business loans and accounts.
