Parramatta. Wide Bay has strong result

Queensland-based community banker, Wide Bay Australia, which has its only NSW branch in Parramatta, has announced a strong result by posting a record after tax profit of $18.16 million, an increase of 13.11 per cent over the 2006/2007 year. “Most of our lending is sourced from our branch network particularly in Queensland, however with only one lending centre in Sydney and Melbourne the use of brokers in those States helps us to secure our lending targets,” said.MD, Ron Hancock. “Now that the acquisition of Mackay Permanent is completed, we intend to strongly focus on developing and strengthening the performances of our branches, both in lending and retail deposits.”