Great Southern Bank increases first home buyers support as loan applications hit record levels
6 March 2026
- Supported more than three times its natural market share among first home buyers
- Home lending balances grew at 1.2 times system
- Net promoter score (NPS) stable and top quartile at 54
- Deposits increased to $15.3 billion
- NPAT increased to $27.0 million
Great Southern Bank has delivered a strong half-year performance, supporting record lending to home buyers while achieving significant growth in sustainable profits, deposits and improvements to customer advocacy.
Total home lending outpaced market growth and increased by 4.2% to $18.2 billion year-on-year. The customer-owned bank supported three times its natural market share for first home buyers in Australia during the half, reflecting the Bank’s purpose of helping all Australians own their own home.
Deposits increased by 5.7% to $15.3 billion year-on-year, with notable growth in savings accounts and term deposits, as Australians continued to seek competitive rates backed by strong customer service. The Bank was awarded Canstar’s Customer-Owned Bank of the Year – Savings for an eleventh straight year.
The Bank delivered solid growth in SME customers, driven by its expanding digital SME proposition and innovative new products, with overall deposit balances almost doubling throughout the period.
Through its deepening partnership with leading accountancy platform MYOB, the Bank also launched an embedded finance product that is creating another pipeline of new customers.
Net profit after tax increased from $17.2 million to $27.0 million compared to the prior corresponding period, driven by strong lending growth, lower wholesale funding costs and more funding sourced through customer deposits. As a customer-owned bank, any profits are fully reinvested to enhance products, services, and lending opportunities for customers.
Paul Lewis, CEO of Great Southern Bank, said:
“Owning your own home remains at the heart of many Australians, and we’re pleased to support them on their journey with increased lending. We’ve grown faster than the market, and increased our lending in every state and territory, particularly in places like South Australia, Tasmania and the Northern Territory that are outside our traditional markets.
“To a customer-owned bank, success is more than just achieving sustainable profits. We continue to be encouraged by how our strong service levels and excellent products are translating into great customer advocacy.”
A stronger, better bank
Great Southern Bank continues to simplify and invest in its technology, strengthening cyber security, improving system resilience and enhancing the overall customer banking experience. Its multi-year partnership with global data intelligence and AI platform Databricks is replacing legacy data platforms with a more efficient, centralised cloud-based platform. enabling enhanced enterprise-wide data re-use for better decision-making.
Reflecting its engaged and customer-focused workplace, the Bank also received the prestigious Gallup Exceptional Workplace Award for a third year in a row.
Since its last merger in 2006, the Bank has grown its balance sheet organically to surpass APRA’s $20 billion Significant Financial Institution threshold, becoming the first mutual bank to do so without a consolidation. The SFI milestone demonstrates the Bank’s strong capital position and risk maturity, while reflecting its increasing scale and importance within Australia’s banking system.
Paul Lewis, CEO of Great Southern Bank, said:
“Reaching the SFI milestone largely through organic growth is a significant moment in our journey and a clear signal of our long-term strength as a bank.
“We are extremely pleased with the strong momentum we are building, driven by partnerships such as our embedded finance collaboration with MYOB and our work with Mission Australia, which are enabling us to innovate while delivering meaningful impact.
“We remain well capitalised, with a strong balance sheet and a continued focus on responsible lending, positive customer outcomes and sustainable growth, underpinned by ongoing technology improvements and deep customer trust.”