Judo Capital Holdings (ASX: JDO) has reached a significant milestone as its loan book surpasses $10 billion, marking five years since securing its banking licence. The business-banking specialist has seen remarkable growth, with an average annual growth rate of 135 per cent since obtaining its licence in April 2019.
The parent company of Judo Bank, which recently received an upgrade to its S&P issuer credit rating, reported a loan book of $9.7 billion at the end of December, up from $7.5 billion a year earlier. CEO Chris Bayliss attributes this success to the hard work of the team and the strong relationships with SME customers.
Bayliss highlights the value of Judo Bank’s specialist SME lending proposition, which is supported by experienced business bankers making empowered lending decisions. The bank has also built a successful deposit franchise, with a term deposit balance of $7.5 billion, showing significant growth from the previous year.
With 135 SME business bankers in 18 locations and over 4,000 customers, Judo Bank has established itself as a key player in the Australian banking landscape. The bank’s resilience and success in navigating financial and economic cycles have set it apart from other startups in the industry.
As Judo Bank transitions from building to scaling its operations, Chairman Peter Hodgson emphasizes the opportunities that lie ahead for the bank. With a net profit of $45.9 million in the first half of FY23 and strong growth in net banking income, Judo Bank is poised for continued success and expansion in the future.