BoQ acquisition of ME Bank set to reach another milestone

more even split between retail and business banking and has also enable the firm to diversifying its customer base across Australia. This was reaffirmed by the distribution of customers across states and territories, with 31 per cent residing in Queensland, 21 per cent in Victoria, another 21 per cent in New South Wales, 10 per cent in Western Australia and the remainder across the South Australia, the Northern Territory and Tasmania.
“It balanced our business 50:50 and as a bank through the cycle it’s just a much more resilient way of doing it,” Frazis said. Commenting on ME Bank’s return to growth after losing in the highly competitive mortgage market, he said: “It’s been a really quick turnaround and the reason why we were able to do that is we’ve had this weekly home loan improvement plan in BoQ for two years, so we could pick that up immediately for ME.”