Login
ISCOVER
James Mitchell
Bankwest has attributed its strong 2011 financial year results to its broker partners, with the lender enjoying significant growth in mortgages over the last 12 months.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
Yesterday Bankwest announced a cash net profit after tax for the year ended 30 June 2011 of $463 million, up significantly from the $45 million loss in the previous year.
Speaking with The Adviser, Bankwest head of specialist lending Ian Rakhit said the strong performance was the result of significant investment in third party distribution channel as well as product and policy.
“As part of this investment we have really focused on the broker network who continue to be a key partner to Bankwest,” Mr Rakhit said.
“We have seen strong growth in our mortgages this year and acknowledge this growth would not have been possible without the strong contribution from our broker network.”
At least 60 per cent of Bankwest mortgages are distributed through brokers, who have been instrumental in the bank’s success, Mr Rakhit said.
"Bankwest has supported brokers for more than three decades and will continue to invest in the network,” he said.
“We would like to personally thank all our broker partners for their ongoing commitment to Bankwest and in helping us achieve this strong result."
