Full Year 2024 MyState Ltd Earnings And To Discuss Merger With Auswide Bank Ltd Transcript
Thanks, Darcy, and good morning and thanks for joining us today. I'm Brett Morgan, MyState's Managing Director and CEO, and with me is Gary Dickson, our CFO. Today's investor presentation was lodged with the ASX early this morning and is also available on our website.
This morning, we have announced a significant development for MyState, with the proposed merger with Auswide Bank. But before I go through the detail of this proposed transaction, including the strategic rationale and benefits for MyState shareholders, Gary and I will first run through the key achievements and results from FY24. We welcome questions at the end of the presentation.
Turning to slide 4. The operating environment has been challenging. Competition across both the home loan and retail deposit markets challenged net interest margin. The inflationary environment challenged operating costs. And cost-of-living pressures meant, rightfully, we continue to invest into supporting our customers.
In the first half of FY24,
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