IBA Annual Report

IBA Annual Report

Posted 08 November 2022

IBA’s Annual Report for 2021-22 has been tabled in Parliament on 3 November. You can access the Annual Report here and read about IBA’s performance outcomes and achievements across our programs. Image of the front cover of the Annual Report

Through 2021-22, IBA and our customers continued to navigate a challenging environment with the COVID-19 pandemic, the added complexities of geo-political stability, the impacts of climate change with repeated floods down the east coast of Australia, and the consequences of these events on market conditions and affordability. Through it all, IBA maintained its focus, inspired and propelled by the strength and resilience of our customers and the commitment and dedication of our staff.

The report details our performance and impact and celebrates the incredible achievements of our customers. Highlights include:

In 2021-22:

  • We formed our Community and Customer Experience directorate to ensure the communities and customers we serve, feel heard and reflected in our work.
  • We introduced IBA’s new domestic and family violence initiative providing tailored products, services and tools to assist anyone impacted by, and/or moving on from, family violence situations.
  • We responded quickly to limit the worst effects of the hardships our customers faced by offering $2k emergency flood relief grants to affected home loan customers and $5k grants to business finance customers.
  • IBA and its subsidiaries procured a combined $10.9m from First Nations suppliers
  • We continued to provide the COVID-19 Indigenous Business Relief Package, supporting 105 customers.

At 30 June 2022:

  • Of IBA’s professionally and culturally diverse Board 66% included First Nations representation
  • Nearly 30% of IBA staff identify as Aboriginal and/or Torres Strait Islander – well above the average across the public sector
  • The value of IBA’s home loan portfolio was $1153m
  • The value of IBA’s business finance portfolio was $139m
  • We provided 95% of home loans to first home buyers
  • The value of Aboriginal and Torres Strait Islander equity $211.4m
  • Our investments program held strong with five-year average returns to IBA’s Indigenous co-investors of 5.9%
  • Our investment and asset management activities employed 607 people in total with 25.3% identifying as Aboriginal and Torres Strait Islander.​​​​​​​

Over the past 5 financial years:

  • IBA received $266.5m in capital from government to invest into the Indigenous Estate however during that time, we invested $1.4b into the Indigenous Estate.
  • We approved $280m in business finance to First Nations businesses and entrepreneurs
  • We provided 2964 new home loans
  • We supported home ownership outcomes valued at $1.08b
  • We supported 1002 business finance customers

Thank you to everyone involved in putting this report together and achieving the outcomes included.