Teachers Mutual Bank Limited delivers growth, scale, and financial strength in landmark 60th year
28 September 2026
Teachers Mutual Bank Limited today released its Financial Year 2026 results and annual report.
Highlights:
- Total assets grew to $14.5 billion (+26.4%)
- Home loan portfolio growth of 27.2% to $11.7 billion
- Retail deposit balances increased to $11.2 billion (+22.0%)
- Capital adequacy ratio increased to 18.93% (+1.92%)
- Net profit after tax $28.9 million (-21.3%)*
- Completed successful merger with Australian Mutual Bank Ltd
- Net promoter score strengthened to +35
- Awarded numerous industry accolades for products and services
The bank reported a sound financial position in a landmark year that included a successful merger with Australian Mutual Bank Ltd and the celebration of the bank’s 60th anniversary.
During FY26, the bank significantly enhanced its financial position, growing total assets to $14.5 billion, retail deposits to $11.2 billion, and its home loan portfolio to $11.7 billion, and increased its capital adequacy ratio to 18.93%, providing a solid foundation and capital for future investment and growth.
CEO at Teachers Mutual Bank Limited, Anthony Hughes, said the results reflected the bank’s disciplined execution of its modernisation strategy and continued focus on enhancing the member experience while accessing new growth opportunities.
“This year marks 60 years since a group of volunteer teachers came together with a simple ambition, to create a better banking experience. While our bank has grown significantly from those humble beginnings, our purpose remains unchanged: we exist to serve our members, improve their financial wellbeing, and create lasting value for the professions and communities that place their trust in us.,” Mr Hughes said.
“With the increased scale delivered from the merger, our bank now serves more than 280,000 members and we are already realising the benefits of our greater capacity to invest in products, services and benefits for members.
“Profit for the year was in line with expectations, and the merger delivered strong financial benefits, including strengthened capital enabling future investment to benefit our members.”
The merger with Australian Mutual Bank Ltd was completed on 1 May 2026 and within two months Teachers Mutual Bank Limited reduced or removed more than 30 fees and charges, enabled greater member access to banking services through an expanded network of 13-branches and extended Contact Centre operating hours, while continuing to enhance the digital banking experience.
The bank continued to invest in strategic initiatives designed to support smarter, safer banking. These included enhancements and investments in fraud and scam protections, the introduction of Confirmation of Payee, and expanded two-way SMS functionality.
To support growth and change within the bank, Teachers Mutual Bank Limited invested in leadership development, employee experience and workplace technology. Employee engagement increased to 72%, above the financial services median score.
The bank also invested more than $1.1 million during the year to support scholarships, professional development, partnerships and community programs.
“The progress we made this year is a reflection of our people,” said Mr Hughes. “Their commitment to delivering great outcomes for our members and communities has been outstanding.”
“The bank enters FY27 in its strongest capital position in recent history, providing significant capacity to invest in future growth and continue delivering strong member outcomes. As we celebrate 60 years of banking for good, we remain focused on building an even stronger mutual bank that delivers great value for members and a meaningful impact for the professions and communities we serve.”