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AAP
AAP
Derek Rose

People First Bank kicks along membership, deposits

Australia
Peter Lock says a mutual cooperative model offers a viable alternative to corporate structures (HANDOUT/SUPPLIED)

Australia's largest customer-owned bank has reported above-system home loan growth for the first half, although its profit has slipped.

People First Bank's residential loans portfolio increased by $550 million in the six months to December, an annualised growth rate of six per cent, compared to system growth of 4.2 per cent.

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