Defence Bank has reached $4 billion in assets on the back of the highest lending month in its history.
The bank funded $104.3 million in its record home lending month in December and when combined with personal lending, its year-on-year total lending growth has increased to 12%; comfortably above system growth.
Defence Bank Chief Executive Roberto Scenna said the growth demonstrates there is both strong member recognition and demand for Defence Bank and its compelling banking products tailored for the defence community.
“These results show that when you commit yourself to serve a community, people will respond. This robust growth is also underpinned by strong member advocacy with a Net Promoter Score (NPS) of +65 recorded in December 2024.
“We are honoured to serve the men and women of the ADF, veterans, and their families and friends.
“Our team can be proud of its commitment to getting more Australians from the Defence community into home ownership, particularly when housing affordability is in policy focus.
“Defence Bank is the best placed bank in Australia to understand the unique lives of serving ADF members, including their pay structure, service history and deployments, and secure the loan that best suits their circumstances.
“We want more Australians, both in the Defence and the wider community to bank with and choose us for their everyday banking. With our suite of products and access on the go to meet busy lifestyles, there is simply no reason to look elsewhere.
“Today’s achievement in reaching $4 billion in assets shows Defence Bank is growing, has a bright future, is here to stay and will continue to deliver for future generations.”
Defence Bank has grown from $3 billion to $4 billion in under four years, having reached the $3 billion milestone in June 2021. The remarkable trajectory is illustrated by the fact it took the first 35 years for Defence Bank to reach $1 billion (1975-2010), and a further seven years to get to the $2 billion mark. As we approach our 50th year anniversary on 18 March 2025 we look forward to Defence Bank continuing to deliver strong financial outcomes for its members.
