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IMB's credit rating information is restricted to viewing by 'wholesale clients' only. Please read and agree to the terms below to access our credit rating information.

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. 

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IMB currently holds issuer credit ratings from the following two external credit assessment institutions (ECAIs):

IMB Ltd ('IMB') Credit Rating:

Rating Agency Short Term Long Term Outlook

Moody's Investor Services

P-2

Baa1

Negative

Fitch Ratings

F2

BBB+

Negative

 

Moody’s Investor Services

On 24 April 2020, Moody’s Investors Service (Moody’s) affirmed IMB’s rating: long-term issuer rating of Baa1 and short-term issuer rating of P-2. The rating outlook was lowered to negative, prompted by Moody’s change in outlook on the broader banking system as a result of the economic disruption caused by the Covid-19 pandemic. For more information visit www.moodys.com.

Fitch Ratings

On 30 April 2020, Fitch Ratings (Fitch) affirmed IMB’s rating: Long-Term Issuer Default Rating (IDR) of 'BBB+' and Short-Term IDR of ‘F2’. The rating outlook on the Long-Term IDR was lowered to negative prompted by Fitch’s expectation that the coronavirus will have a significant impact on Australian banks’ operating environment which will in turn impact financial performance. 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 16.0% at 30 June 2020), has significant levels of liquidity (with High Quality Liquid Assets of 18.5% at 30 June 2020), 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 2020 IMB’s residential arrears 90+ days was only 0.27% representing 35 loans out of a total of 20,614 loans*).

 

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.
* excludes loans from 1 May 2020 merger with Hunter United Credit Union.

 

IMB Key Credit Numbers
As at 30 June 2020
Liquidity ratio (%) (APRA minimum - 9.0%) 18.5
Total Liquidity 20.0
Capital adequacy (%) (APRA minimum - 8.0%) 16.0
Arrears (%)
[non-performing loans (90+ days in arrears/total mortgage loans)]
excludes loans from Hunter United Credit Union merger 1 May 2020
0.17
35 loans out of 20,614
Total assets ($m) 6,787
Total profit after tax ($m) for the year 30 June 2020 26.3

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Why choose us?

Established in 1880, we have been helping people achieve their financial goals for 140 years and are rated by Forbes as one of the World’s Best Banks. We offer a full range of competitive banking, including home and personal lending, savings and transaction accounts, term deposits, business banking, and can arrange financial planning, insurance and travel products.

We provide simple and secure digital banking solutions online and on mobile, and members enjoy access to free automated phone and internet banking, and a team of professionals at our locally based contact centre. With a growing branch network throughout the Illawarra, Sydney, NSW South Coast, Newcastle/Hunter, the ACT and Melbourne, we have a lending specialist in every branch and a team of mobile lending specialists who will come to you.

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