David Temple - January 2017
As we start into what I hope for everyone is a good year ahead, it is timely to reflect on some of the Mutual Bank’s achievements over the course of 2016. Economic and market conditions were challenging in a low growth environment but your Mutual Bank has continued to perform well. We recorded an after tax operating profit of $15.1 million, our assets reached $2.16 billion with our loan book and deposit base both showing strong growth.
It is pleasing and reassuring that you, our Members, continue to rate the Mutual Bank very highly in terms of customer satisfaction. We are motivated to ensure that our focus remains on Members in all that we do, and our success is shown by receiving the independent Mozo awards – Experts’ Choice Award and the People’s Choice Award – recognising us for ‘best financial value’ and for ‘customer satisfaction’.
We cannot however rest on our laurels despite our continued successes. The pace of change, particularly in the technology space is exponential, and we continue to invest in technology and our digital offerings to enhance your customer experience. We introduced new Internet Banking, Mobile Banking and App platforms during the year and we will continue to roll out new platforms and products in 2017.
Victoria Teachers Mutual Bank has a proud history and has come a long way since its inception in 1972. We are well blessed with committed and caring staff, a strong and cohesive Board and the loyal support of you our Members who have been our greatest strength throughout our history. We can and should face the future with confidence in what is sure to be a competitive and challenging environment.