BNK markets its loans through mortgage brokers under the name of Better Choice Home Loans and deposits under the Goldfields Money name. They closed their two regional branches in 2020. The CEO is ex Resimac and built the $2.0b+ Better Choice business from scratch before BNK acquired Finsure in 2018 so I think he would know a thing or two about residential lending, their bread and butter business. The future path to profitability is the difficult piece to predict. The cost of compliance for small banks with things like Open Banking (look how many of the banks didn't meet the 1 July 2021 start date for example), and Comprehensive Credit Reporting as well as competing with the likes of CBA for app innovation makes it difficult for small banks to turn a dollar of profit.
BNK markets its loans through mortgage brokers under the name of...
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