MyState Ltd Strong loan book growth
Strong loan book growth: MyState Ltd (ASX: MYS)recorded a 0.8% and 0.7% growth in its first half financial year 2017 operating income and net profit after tax, respectively. Home loan book recorded a strong 15% growth to $3.94 billion, while customer deposits also surged 16% to $2.93 billion. The company believes that it has focused on its approach to low-risk growth, and continued to improve credit performance, with low arrears and loan impairment. Also, during the first half, the company introduced new digital services to benefit customers, including Android Pay, Apple Pay, and new MyState Bank internet banking and mobile banking apps. MYS had announced that it would partially underwrite its Dividend Reinvestment Plan (DRP) for the first half 2017 dividend payment.
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