Investor Presentaiton
MyState
Sub Debt Issue | Investor Presentation 20
Limited
Operating costs well managed
Operating costs increased 4.82% led by increased investment in capability, marketing and digital
Increased investment in marketing of $0.8m, up 39% on pcp
One-off investment costs of $0.65m relating to rebrand of TPT Wealth and launch of new managed
funds platform ($0.4m) and re-engineering the cost base ($0.25m)
Underlying cost growth of 3.16% excluding one-off investment costs
Restructuring costs to provide benefits in 2H20
One branch closure, network reduced to 13 branches
$ Millions
Operating expenditure
42
42
42
Expenditure breakdown
One-off investment costs
45
41.1
38.7
39.2
39.0
41
21
41
0.02
0.120
0.15
0.23
0.73
0.54
0.64
0.38
0.63
$ Millions
40
36.8
2.7
1.9
1.9
2.7
2.6
35
3.2
1.8
3.1
3.0
2.9
7.5
30
6.0
6.7
6.9
6.1
40
40
40
40
15
41.12
10
18.5
17.5
18.0
17.4
19.1
5
39
0
39.23
39
1H18
2H18
1H19
2H19
1H20
+4.82% growth
■ Personnel Costs ■ Admin and Governance
■ Technology
Occupancy Marketing
38
1H19
Personnel Restructuring Technology Occupancy Marketing
Other
1H20
2250
9.3
9.1
9.4
8.5
9.0
1H20 Admin and Governance and Occupancy costs impacted by first time adoption of AASB16 LeasesView entire presentation