Financial results for 2009/2010

On 30 August the Police & Nurses Board of Directors approved the Police & Nurses audited financial results for the 2009/2010 Financial year.

Key financial highlights for 2009/2010 were:

• Net profit for the Society after tax rose by $3.03 million (26.6%) to $14.4 million.
• Total Group profit after tax increased from $10 million in 2009 to $23.2 million in 2010, an increase of $13.2 million (133%).
• Total assets increased by $215 million (8.8%) to $2.7 billion.
• Overall loans and advances increased by $153 million (7.2%) to $2.3 billion.
• Member deposits improved by $122 million (7.8%) to $1.7 billion.
• Total Group reserves increased by $25.8 million (15.1%) to $196 million.
• Net interest income grew by $10.6 million (24.8%) to $53.4 million.
• Doubtful debts expense decreased $0.8 million (19.8%) to $3.2 million.

View our latest press release for more information on the Police & Nurses audited financial results.