Key highlights
- Net profit after tax of $30.4 million, up 7.6%
- Total loans increased to $8.3 billion, up 5.0%
- Total deposits increased to $8.2 billion, up 7.5%
- Capital adequacy increased to 16.1%, up 1.4%
- Supported more than 1,540 Australians into home ownership
- Net Promoter Score of +50, well above the industry benchmark
- 87% of customers trust P&N Group to act in their best interests
- Roy Morgan Bank of the Year Customer Satisfaction - third consecutive year
Customer-owned P&N Group (Police & Nurses Limited) has delivered strong financial results while continuing to invest in the products, services and support that matter most to their customers. Strong growth, customer trust and a strengthened capital position provide a solid foundation for continued investment in better customer outcomes and future capability.
Through its P&N Bank and BCU Bank brands, P&N Group serves more than 206,000 customers across Western Australia, New South Wales and Queensland. During the year, loans increased by 5.0% to $8.278 billion and deposits by 7.5% to $8.235 billion, while net profit after tax rose 7.6% to $30.4 million and capital adequacy strengthened to 16.1%.
P&N Group Managing Director and CEO Andrew Hadley said the result reflected the Group’s disciplined approach to supporting customers through a challenging economic and highly competitive banking environment, and the dedication of its people who continue put customers at the heart of everything they do.
“Elevated living costs and economic uncertainty continued to place pressure on households, while competition across retail and business banking remained strong,” Hadley said.
"Against this backdrop, we delivered balanced growth, improved profitability and a stronger capital position, while continuing to provide the value and personal service our customers expect.
"As a customer-owned bank, our performance allows us to continue investing in better experiences, protection and products for our customers.”
This focus on delivering value and support for customers continued to be reflected in high levels of trust and advocacy.
Customer confidence remained high, with P&N Bank and BCU Bank recording a Net Promoter Score of +50, well above the industry benchmark, while 87% of customers said they trust the Group to act in their best interests. P&N Bank was also named the 2025 Roy Morgan Bank of the Year for Customer Satisfaction for the third consecutive year.
Investing in better banking experiences
P&N Group continued to invest in technology and operational resilience to make banking simpler, faster and more secure for customers.
Enhancements to the home lending experience included digital document delivery and signing, real-time application tracking and a more streamlined settlement process. A new national Contact Centre and integrated service platforms also improved customer service.
“Customers increasingly expect banking to be convenient and connected, but they also want to know trusted support is available when they need it,” Hadley said.
“Our investment has focused on making everyday banking easier while strengthening the service, security and protection our customers rely on.”
Protecting customers from scams, fraud and cyber-enabled crime remained a key priority, supported by continued investment in the people, technology and capabilities needed to detect, prevent and respond to emerging threats.
The Group also continued to support the communities it serves, contributing more than $500,000 through partnerships, grants, donations and in-kind support, benefiting almost 90 community groups, charities and individuals.
Proposed merger with Bank Australia
The result provides a solid foundation as P&N Group progresses its proposed merger with Bank Australia. Subject to regulatory approval, eligible members of both organisations are expected to have the final say through a vote in the first half of 2027.
The merger would create a larger and more resilient customer-owned bank, with greater capacity to invest in customer experience, technology, security and service.
As expectations for digital banking, protection from scams and cyber threats, competitive products and reliable service continue to grow, increased scale would enhance the Group's ability to invest in these capabilities while remaining customer-owned and ensuring members retain a strong voice in the future of the organisation.
"Our financial position, continued investment in capability and the opportunity presented by the proposed merger leave us well placed to deliver long-term value for customers and contribute to the future of customer-owned banking," Hadley said.
Download P&N Group’s 2026 Annual Report from Annual Reports - financial position and statements.