St George Bank Limited

From IntFX

See also: SGB for realtime information.

St. George Bank Limited is one of the largest banks in Australia. The company has range of services from Personal Accounts, Business Accounts, Personal, Business, Car & Home loans, Online Broking, Insurance & Margin Lending.

It operates through four business segments.

• The Retail Bank segment: It is engaged in residential and consumer lending, and provision of personal financial services.

• The Institutional and Business Banking segment: It provides liquidity management, wholesale funding, securitization, capital markets, and treasury market activities, including foreign exchange, money market and derivatives. It is also encapsulates corporate and business relationship banking, international and trade finance banking services.

• The BankSA segment: Provides retail banking and business banking services to customers in South Australia, Northern Territory, New South Wales and Victoria.

• The Wealth Management segment: Provides wealth management and administration, asset management, dealer group services, margin lending, financial advice, private banking services, and general and life insurance.

St. George is 5th largest bank in Australia and is listed in Australia Securities Exchange with ticker SGB and is one of the top 15 publicly listed companies. The Company has head quarter in Australia. The Company currently employs approximately 8,500 people. The Company is in expansion mode in areas like Victoria, Queensland and Western Australia.

[edit] History

Founded in 1937 as a housing based financial institution, St. George built a reputation as Australia's foremost building society, before achieving full banking status in July 1992. With various acquisitions across the years company has developed into one of the prominent banks of Australia

[edit] Strategy

The key strategy is to have a close relationship with its customers. This is key to future strategies and success of company. It is imbibed as tradition that distinguishes St.George from other Australian Banks. The Company also has core strategy of organic growth by leveraging the potential in franchise and developing on strength and capabilities. These strengths include superior credit quality, positive customer service ratings and product management & product innovation capabilities. CRM is one area wherein the Company is willing to focus.

[edit] Financial and operational performance

The Company’s net profit was $ 568 million in March’07 which has shown increase of 14.7% compared to previous year. Also interest income has increased to $ 1078 million i.e. 11.8% compared to March 2006. Total asset of the Company reached $ 112 billion in March’07 which is 11.9% higher than previous year.