Morningstar - MyState (MYS) MyStates May Home Loan Growth Stands Out While Funding Pressure Mounts; FVE Intact at AUD 5

Report

Morningstar

David Ellis

MyState's May Home Loan Growth Stands Out While Funding Pressure Mounts; FVE Intact at AUD 5

The Australian Prudential Regulation Authority's, or APRAâ€™s, latest banking statistics disclosed a strong 1.3% home loan growth for the month of May 2018 for no-moat-rated MyState, tripling the system growth of 0.4%. Based on APRA data, MyState increased its stock of home loans by 5.6% for the 12 months to May 2018, broadly in line with the 5.5% system growth rate. We believe the recent outstanding performance of the Tasmanian property market underpins the small bank's strong home loan growth. N...

04/07/2018 14 EN

Underlying

MyState

MyState is a provider of banking, trustee and wealth management products and services through its wholly-owned subsidiaries MyState Bank Limited and Tasmanian Perpetual Trustees Limited. The banking division's product offerings include lending, encompassing home loans, personal, overdraft, line of credit and commercial products; transactional savings accounts and fixed term deposits; and insurance products. The wealth management division is a provider of funds management, financial planning and trustee services. It operates predominantly within Tasmania. As of June 30 2016, Co. had total assets of A$4.42 billion and total deposits of A$3.26 billion.

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AU000000MYS0 Australian Securities Exchange Australia

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

David Ellis

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MyState's May Home Loan Growth Stands Out While Funding Pressure Mounts; FVE Intact at AUD 5

MyState Limited: 1 director

Moody's withdraws MyState Limited's Ba1 (hyb) subordinated MTN rating for business reasons

Monthly LMI Update Independent Investment Research

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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