We are thrilled to announce that Auswide Bank has purchased Selfco, a successful specialist equipment leasing finance company, marking another milestone in our ongoing journey of growth and excellence.
This strategic purchase aligns with Auswide Bank’s vision of enhancing service offerings and expanding market presence, marking Auswide Bank’s entry into the asset and equipment finance industry.
The purchase is due to be finalised by the end of August with existing Selfco customers receiving the benefit of an expanded suite of financial services and the backing of a successful retail bank.
“Selfco and its management team and employees bring a wealth of industry experience that complements and expands on Auswide Bank’s existing capabilities.”, said Auswide Bank Managing Director Doug Snell. “It enhances the product range for existing customers and our communities.” he said.
The integration of Selfco into Auswide Bank’s banking operations will allow expansion into new markets and strengthen its offering to the business market and existing business customers. The purchase also serves to diversify the Auswide Bank business model and strengthen the Bank’s overall financial resilience.
Selfco Managing Director Rob Burden said the purchase marked a transformative moment for the business, presenting new opportunities for growth.
“With the combined expertise of both organisations, we are poised to deliver even greater value to our customers and stakeholders”, said Mr Burden.
Mr Snell welcomed Selfco employees and customers to Auswide Bank. “Selfco and Auswide Bank share many core values. We look forward to working together to deliver continued excellent service and competitive products”, said Mr Snell.
About Selfco
Selfco provide a range of market leading financial products to small businesses, such as leasing, commercial hire purchase and chattel mortgages. You can find out more about Selfco at https://selfco.com.au/
