Annual Report 2024

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Great Southern Bank is proud to present our 2024 Annual Report, highlighting our efforts on behalf of our customers, communities and our team.

“We are here to help all Australians own their own home – it’s our purpose, and it guides and invigorates our bank as we support over 414,000 Australians to achieve financial security and realise their home ownership aspirations.”

CEO and Chairman Message

Key highlights

414,581

Number of active customers

$1.32billion

New lending to first home buyers

$13.6billion

Retail deposits

$37.3million

Group net profit after tax

Our customers

Great Southern Bank home loan customers saved an average of $2,113 during the year to June 2024, compared to if their home loan was with one of the big four banks*.
Our savings products received over a dozen awards during the year, while we were also awarded Customer Owned Savings Bank of the Year by Canstar.

Our team members

We were named a global Gallup Exceptional Workplace Award winner.
85% of team members agree or strongly agree that our purpose makes them feel their job is important.

Our community

We completed energy and water efficiency upgrades to a social housing complex in New South Wales as part of our $1 million, three-year partnership with Mission Australia.
We launched our ‘Innovate’ level Reconciliation Action Plan (RAP) in December 2023, as we continue our reconciliation journey.

The environment

We are helping customers purchase eligible electric/hybrid vehicles, solar panels, battery storage, and solar/heat pump hot water systems with the launch of our first green personal loan products to help customers.
We transitioned nine of our branches, as well as our Sydney and Melbourne Hubs, to renewable energy, supporting our commitment to source 100% renewable energy for our offices and branches by 2030.

Our partners

We launched our new digital-first offering to support small businesses with fintech partner Constantinople.
We completed the transformation of our Customer Contact Centre with average call wait times down to 37 seconds through our partnership with Optus and Nice CXOne.

Governance

We attained B Corp Certification, joining an elite global community of over 7,800 businesses dedicated to positive impact beyond profits.
In line with our commitment to our purpose and creating a positive impact for stakeholders, we have enhanced our governance framework by establishing a new Board Committee - the Purpose and Impact Committee.

Case study: Helping customers become homeowners

Kai and Joyce were amongst the first permanent residents to take advantage of the expanded Australian Government’s Home Guarantee Scheme eligibility criteria. The couple, who moved from The Philippines to raise a family in Australia, purchased a three-bedroom townhouse in Brisbane’s northern suburbs through Great Southern Bank.

“From the day I stepped inside Great Southern Bank’s branch, they were on our side. They went above and beyond for me and my family,” says Kai.

Case study: Celebrating our team members

Our Senior Manager of Financial Crime, Emily Pierce is not just a manager - she is a leader who cares deeply about her team's success. Her commitment to her team's collective achievements earned her recognition in 2024 as one of just 10 finalists globally for the Gallup Manager of the Year Award.

“The work we do is protecting our community from financial crime and safeguarding the bank from behaviour which is not in line with our banks' values. Our customers expect us to take our ethical and legal obligations seriously - it is part of being a good corporate citizen,” Emily says.

Download our Annual Report

Download our Annual Report or Basis of Preparation for Financed Emissions

2024 Annual Report PDF

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Basis of Preparation for Financed Emissions

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Important Information

* 1. SOURCE: Canstar (Great Southern Bank - Home loan cost comparison to major banks, August 2024)