August 1, 2013
Toowoomba-based Heritage Bank today announced it had recorded its 14th consecutive year of record pre-tax proft.
Unaudited figures show a before tax profit of $52.96 million for the year ended June 30, 2013, a 19.4 per cent increase on the previous year.
The after tax profit for 2012/13 was $37.05 million, up 18.5 per cent on the previous year.
Heritage also increased its total consolidated assets to $8.507 billion, an increase of 3.5 per cent.
Heritage Chairman Mr Kerry Betros said the company’s strong financial performance was good news for customers.
“Our 14th consecutive year of record pre-tax profit reflects the strength of our customer-owned banking model and the value our People first approach delivers for our customers,” Mr Betros said.
“We opened one new branch at Oakey in 2012/13, on top of two in the previous year, and we added 40 new jobs to our workforce during the year. Our total number of staff is now around 750 – all based in Australia.
“We are investing in growing our business at a time when other financial institutions are closing branches, cutting their workforces or even sending jobs overseas.”
