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By continuing to access, browse or use this web page from within Australia, you represent to IMB that you are, or are accessing the credit rating page as a 'wholesale client', or representative of one, and that neither you nor the entity you represent will directly or indirectly disseminate the credit rating to 'retail clients' within the meaning of section 761G of the Corporations Act 2001.
I am a 'wholesale client' or representing one as described below:
- an Australian financial services licensee; or
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- a person in control of at least A$10 million, including through an associate or under a trust that I manage;
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IMB currently holds issuer credit ratings from the following two external credit assessment institutions (ECAIs):
IMB Ltd ('IMB') Credit Rating:
Moody’s Investor Services On 16 December 2021, Moody’s Investors Service (Moody’s) affirmed IMB’s rating: long-term issuer rating of Baa1 and short-term issuer rating of P-2 with Stable outlook. The rating reflects IMB’s ‘strong asset quality to date and its focus on low-risk mortgages, which will provide a buffer against the uncertainty around future asset quality arising from the coronavirus pandemic’, and IMB’s ‘substantial liquid assets and less reliance on wholesale funding markets’. For more information visit www.moodys.com.
Fitch Ratings On 18 January 2022, Fitch Ratings (Fitch) affirmed IMB’s Long-Term Issuer Default Rating (IDR) of 'BBB+' with a Stable Outlook, and Short-Term IDR at ‘F2’. The rating reflects IMB’s business model and risk profile that focuses on low-risk residential mortgages, resulting in sound asset quality. For more information visit www.fitchratings.com.
IMB continues to closely monitor developments including the impact of the economic disruption caused by the Covid-19 pandemic. IMB’s key financial indicators remain intact and key regulatory capital and liquidity ratios are being prudently managed at appropriate levels in the context of the current extraordinary environment. As the current situation continues IMB will remain focused on ensuring the safety of our people and their families, continuing to support and safely meet the needs of our members, ensuring IMB’s operations remain resilient, and maintaining prudent oversight of our financial risks. IMB’s credit profile, balance sheet and other fundamentals remain strong. In particular IMB is well capitalised relative to risk (with total regulatory capital at 17.4% at 30 June 2021), has significant levels of liquidity (with High Quality Liquid Assets of 18.0% at 30 June 2021), and has stable earnings and a low cost-to-income ratio relative to peers. In addition, IMB maintains sound asset quality in its loan portfolio with arrears statistics and bad debt experiences that are well below national industry averages (at 30 June 2021 IMB’s residential arrears 90+ days was 0.13% representing 28 loans out of 21,826).
Credit ratings are statements of opinion and not statements of fact or recommendations to purchase, sell or hold any securities. Credit ratings are subject to change. |
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IMB Key Credit Numbers As at 30 June 2022 |
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|---|---|
| Liquidity ratio (%) (APRA minimum - 9.0%) | 16.6 |
| Total Liquidity | 19.4 |
| Capital adequacy (%) (APRA minimum - 8.0%) | 14.8 |
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Arrears (%) [non-performing loans (90+ days in arrears/total mortgage loans)] |
0.08 17 loans out of 21,504 |
| Total assets ($m) | 7,076 |
| Total profit after tax ($m) for the half-year 31 December 2021 | 29.5 |
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Established in 1880, IMB Bank is one of the most enduring financial institutions in the country, helping people achieve their financial goals for over 140 years. Our members can access a fully featured range of services: home and personal lending, savings and transaction accounts, term deposits, business banking, and more.
Our renowned personal service is backed by innovation, providing convenient, secure digital banking options where and when you want it. IMB also has a growing retail branch network throughout NSW and Victoria, for when you need to speak to someone in person, and a team of professionals at our locally based contact centre. We have a lending specialist in every branch and a team of mobile lending specialists who will come to you.
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