Mutuals Industry Review 2015 | KPMG | QA

Mutuals Industry Review 2015

Mutuals Industry Review 2015

2015 marks the return of solid growth for Australia’s credit unions, building societies and mutual banks (the mutuals) as total assets grew by 7.4 percent and overall profitability remained strong.

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Partner, National Head of Mutuals

KPMG Australia

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KPMG’s Mutual Industry Review 2015 provides an analysis of the performance and role of the mutuals in Australia’s financial services sector, based on financial results analysis together with a survey of industry participants to gain their perspectives on the risks, challenges and opportunities facing the industry.

Key trends

The Review identifies six key trends benefitting the mutuals:

  • A more competitive position against the major banks due to the impact of capital measurement changes from the Financial System Inquiry on Australia’s overall banking sector.
  • Constraints on lending growth across the banking sector requiring consumers and investors to look beyond the major banks.
  • Investment in new technology by mutuals starting to pay dividends.
  • Falling technology costs allowing investment in new and improved business methods.
  • Fintechs providing new business models and concepts that can be implemented and embraced quickly.
  • Continued rationalisation from within the industry leading to increasing collaboration between mutuals.

Further information

© 2017 KPMG, an Australian partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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