Judo Bank 2024 AGM overview

Judo Bank (ASX:JDO) held its 2024 Annual General Meeting on October 25 at their Melbourne office. The meeting was also accessible via a live webcast. The Chair, Peter Hodgson, and CEO, Chris Bayliss, discussed the bank's robust performance, strategic direction, and future plans. Judo Bank highlighted its resilience in a challenging economic climate, strong financial outcomes, and ongoing support for SMEs in Australia.

Judo Bank's strategic direction and future plans

At the 2024 Annual General Meeting, Judo Bank demonstrated a solid financial year, achieving its guidance targets with significant lending growth and a substantial profit before tax. Leadership transitions were announced, with Chris Bayliss taking over as CEO and new appointments strengthening the management team. The bank's strategic focus remains on supporting Australian SMEs with a relationship-driven approach while challenging the competitive landscape of the banking sector. Judo Bank aims to expand its regional presence with plans for additional locations by June 2025. Looking forward, the bank is committed to operational excellence, innovation, and exploring new product offerings, with a goal to achieve a return on equity in the low to mid-teens. The bank's leadership and cultural focus is on maintaining a strong employment brand and attracting top talent, ensuring continued success and growth.

Executive statements from Judo's leaders

During the AGM, we outlined our continued commitment to supporting small and medium enterprises, which remain at the core of our strategy. Our financial performance has been strong, with a lending growth of 20% and a profit before tax of $110 million. Our focus on robust risk management and technological advancement has enabled us to maintain high capital levels and drive scalability. We are excited about our regional expansion and the future opportunities it presents.