Bank Australia has been crowned as CANSTAR Customer Owned Bank of the Year in 2016.
The lender, which entered the third party distribution channel in September last year, beat over 50 customer owned banks in Australia evaluated by CANSTAR when selecting the winner.
CANSTAR group manager, research, Mitchell Watson, said Bank Australia’s residential home loan product offered “outstanding value”.
“Bank Australia has showed outstanding value overall across the product areas that we consider within our star ratings, particularly within residential home loans,” he said.
“Bank Australia not only offers outstanding value products within the lending space, but also offers its customers value for money when it comes to its savings and transaction accounts.
“Overall CANSTAR researched 266 deposit accounts, 1,211 home loans, 63 credit cards and 200 personal loans, so Bank Australia's achievement is both significant and well-deserved.”
Bank Australia head of third party distribution, Richard Irving, said he’d like to extend the appreciation to brokers “who’ve contributed to our success in achieving this award”.