B&E PERSONAL Banking has reached a major growth milestone smashing through the $500-million asset mark and experiencing record demand for its home lending products.

CEO Paul Ranson said that the company’s continued strong growth given current market conditions was very positive and demonstrated that Tasmanians continue to enthusiastically support local companies that can provide highly competitive products and services.

B&E has now reached $530 million in assets on balance sheet (as at March 31) and has experienced two consecutive months of record lending and is on-track for a third. Growth in deposits has also been strong for the financial year.

“In March we broke our all-time lending record,” Mr Ranson said. “This was backed up in April and activity for May is so far very strong. Importantly, our service levels have not been compromised by the high demand, which is a real credit to our people right across the State.

“The first home owners grant has certainly played a strong role in this growth, however, we also have one of the best home loans on the market, Topline, which was rated in Australia’s Top 3 by SmartInvestor magazine earlier this year (non-banks).

“In the last 12 months we’ve achieved some significant milestones including launching a new high interest savings account and website, along with joining the rediATM network and installing new ATMs throughout our branch network,” Mr Ranson said.

“Looking ahead, we are strongly positioned to further grow and develop our products and services to meet the rapidly evolving needs of today’s consumers, along with continuing to invest in new technology and staff development and training,” Mr Ranson said.

As a member owned financial institution, B&E continues to be committed to keeping its lending rates as low as possible and providing value for members as opposed to profit for shareholders.

“Our continued success ensures that Tasmanians have a real alternative to access highly-competitive personal banking products from a financial institution that is Tasmanian owned and operated,” Mr Ranson said.