Newcastle Greater Mutual Group Ltd (NGM Group) has delivered another strong performance in FY26, enabling record investment in technology and innovation to build a stronger, safer and faster bank for customers, alongside more than $7 million in support to community initiatives across Australia.
Supporting more than 660,000 Australians through Greater Bank and Newcastle Permanent, the customer-owned organisation delivered a net profit after tax of $105.4 million and again grew home lending and customer deposits more than any other mutual bank in Australia1 with total assets now in excess of $25 billion.
Posting total asset growth of 23 per cent since merging to form NGM Group in March 2023, the result demonstrates the continued momentum of one of Australia's largest customer-owned banks and the successful integration of Greater Bank and Newcastle Permanent.
"What began as two respected regional institutions has evolved into a customer-owned banking group with reach right across Australia, while remaining deeply connected to the communities where our heritage was built," NGM Group Board Chair Darren Turner said.
"Our two strong and growing customer brands continue to be NGM Group's key strengths.
"Together, they allow us to meet the needs of more Australians and continue investing in the products, services and experiences that our customers value."
Consistent portfolio growth enabled a record investment of $53 million into innovation upgrades, strengthening the safety, speed and reliability of customers’ banking experiences. The program included progressing a cloud-first approach to strengthen resilience and cyber safety, the disciplined adoption of AI-enabled tools and the retirement of legacy systems and technology infrastructure.
NGM Group Managing Director and CEO Bernadette Inglis said the investment marked an important step in strengthening the Group's long-term capability.
"This investment is the result of several years of disciplined work to bring together two strong organisations and create a platform for future growth," she said.
"Whether customers bank with us online or in person, we're investing in the systems and capabilities that deliver better experiences today while preparing us for the opportunities of tomorrow."
Ms Inglis said that alongside digital investment, branches continue to play an important role.
"Building a stronger bank is about more than just technology,” she said.
"This year we also refurbished branches across our network, including locally at Raymond Terrace, Swansea, Marketown and Singleton, ensuring our customers continue to benefit from modern facilities and personal service alongside our digital options."
The year also saw continued progress on NGM Group’s future head office at 10 National Park Street, Newcastle West.
Reinforcing the role customer-owned banking plays in helping communities prosper, NGM Group again exceeded its commitment to return at least $4.5 million to community initiatives, this year investing more than $7 million in the charities, not-for-profits and grassroots organisations that help regional Australia thrive.
Highlights included support for more than 70 charities through the Newcastle Permanent and Greater charitable foundations, investment in medical research through the Hunter Medical Research Institute and the launch of Innovate for Impact, a technology hackathon that brought together more than 230 participants to create solutions for charity partners.
Additionally, staff gave almost 6,300 volunteer hours to causes including bush regeneration, packing Christmas hampers and donating blood.
Mr Turner said the FY26 achievements reflected the disciplined work of recent years to build a larger organisation with greater capability and ambition, while staying true to the values that underpin NGM Group's success and the commitment of its people.
“As a customer-owned bank, our performance is measured not only by financial results but by the positive impact we create for our customers and the communities we serve,” he said.
"Success isn't just about growing the bank – it's about using that success to create opportunities, strengthen local organisations and help build more vibrant regional communities."
Key FY26 figures:
- Net profit after tax: $105.4 million
- Total assets: $25.1 billion
- Net assets: $2.1 billion
- Home loan portfolio: $19.7 billion
- Customer deposits: $19.9 billion
- Total Capital Ratio: 24 per cent
- Minimum Liquidity Holdings Ratio: 18.7 per cent
1APRA Banking Statistics June 2026. Comparison relates to the increase in dollar terms of household loan and deposit balances, excluding deposits by financial institutions and governments.