Lender review

My State

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LoanCaddie Opinion

MyState is one of the smaller regional banks. It

Facts and lender background
History

MyState Limited is an Australian financial group, headquartered in Hobart, Tasmania. It formed in 2009 following the merger of the Tasmanian Perpetual Trustees and MyState Financial. In 2011 it further purchased the Queensland-based Rock Building Society. In October 2014, its largest section, MyState Financial received authorisation from the Australian Prudential Regulation Authority to rename itself to MyState Bank.

Size

$5bn in bank assets. Market capitalisation of about $400m.

Credit Rating

MyState is rated Baa1 by Moodys. The Australian Government's guarantee on deposits under the Financial Claims Scheme applies to deposits held with MyState.

Ownership

My State is public company listed on the ASX.

Funding

MyState has a relatively low reliance on wholesale funding markets. Most of its business is funded by customer deposits and securitisation.

Customer service
Product Review Rating
1.7

average is 2.1 / 5

Branch network

MyState Bank has branches located around Tasmania and Central Queensland as well as access to the Bank@Post network.

Internet banking

Mobile Banking services you can do your banking on the go 24 hours a day, 7 days a week. Internet Banking platform lets you do your banking online any time from the comfort of your home or office.

ATM/EFTPOS

MyState Bank cards can be used direct charge free at over 10,000 ATMs Australia-wide, including all major bank ATMs.