MyState Reports 2026 Profit of $58.3 Million

The Australian financial firm posted solid growth in its loan book and deposits at its 2026 Annual General Meeting.

Updated on Oct. 20, 2026 in Corporate Finance

MyState Reports 2026 Profit of $58.3 Million

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MyState Limited announced an underlying Net Profit After Tax of $58.3 million for the 2026 financial year. Shareholders also addressed executive performance rights and director re-elections during the Annual General Meeting.

Why it matters

Stronger loan book and deposit growth provide MyState with a more stable foundation as it pursues significant cost-saving synergies. These results help frame the company's financial trajectory ahead of its 2028 operational targets.

MyState reported an underlying Net Profit After Tax of $58.3 million with underlying earnings per share reaching 34.3 cents. The company also declared a final dividend of 12.5 cents per share.

The players

MyState Limited

This is an Australian-based diversified financial services company providing banking and wealth management solutions.

Brett Morgan

He is the CEO of MyState Limited who is subject to an unlisted performance rights programme.

The details

The firm expanded its total loan book by 7.2 percent to $14.0 billion, while customer deposits rose 4.0 percent to $10.6 billion. Equipment finance saw significant growth of 134 percent to $371 million, and the company has already realised $11.8 million in run-rate synergies.

The 2026 financial year concluded on 30 June 2026.
The Annual General Meeting was held on 20 October 2026.
The performance rights period for CEO Brett Morgan covers the FY2027 year.
The target for synergy savings is set for the FY2028 financial year.

Market Dynamics

MyState's strategic focus on $20 to $25 million in synergy savings by 2028 mirrors the wider industry trend of Australian financial institutions consolidating operations to drive efficiency. This push for scale follows a period of rapid growth in specialised lending sectors like equipment finance.

Shareholders are set to receive a final dividend of 12.5 cents per share following the company's annual performance review. Investors should also monitor the ongoing performance rights programme for leadership, which remains a key factor in long-term governance.

The takeaway

The company's significant growth in equipment finance suggests a successful pivot toward higher-margin business lines. Management remains focused on long-term efficiency, targeting up to $25 million in synergy savings within the next two years.