Thank you. Good morning. Welcome to the presentation of Auswide Bank's interim result for the 2023 financial year. I'm Martin Barrett, MD of Auswide Bank, and joining me today is Bill Schafer, the group CFO. During today's presentation, we will be referring to the investor presentation which was lodged on the ASX this morning. You will note we have kept this pretty simple, in line with in banking terms, a relatively simple focus we maintain. I'm stating the obvious when I say we're experiencing fast and sub-substantial change in the Australian economy and as a subset, the housing market pays to be agile in this environment, and as I'm sure time will reveal conservative rather than aggressive lending during the past historic low interest rate environment will be a benefit. The period ahead will be somewhat defined by the decisions taken over the past few years, particularly as it relates to loan serviceability, customer impact, and ultimately the bank's loan provisions and write-offs. To continue the obvious, what are some of the key changes and challenges we in the industry face? Well, obviously, inflation interest rates have been running fast, both materially increasing the cost of living. Capital changes from APRA have been broadly neutral for banks rather than positive. A slowing of home buying whilst refinancing accelerates to new highs, which is stoking intense competition, including the prevalence of cashback offers. Some areas experiencing housing price falls from the peak, which occurred around March 2022, but interestingly, not all areas. Deposit competition is well and truly in full swing, despite some reporting and political interest suggesting the contrary. Experts, I think, have proven not to be so expert in forecasting interest rates or house prices, which is compounding uncertainty. Certainly, forecasting has proven to be very much a line between two mistakes recently. The market is both threatening and opportunistic, as is the case with any significant and rapid change. We have, I think, demonstrated our ability to successfully manage through significant disruption, change and challenges over the past years. We're one of the only banks, if not the only bank, that has had over five years of uninterrupted, successful, profitable growth and have seen our return on equity and net profit after tax double over the past 10 years. I believe we now have the strongest return on equity of any of the standalone listed banks outside the Big Five, having pulled ourselves up from being at the lowest end of that comparison some years ago. This is a result of an ongoing focus on improving our capability with conservative investment to achieve profitable growth. We have built and continued to improve our home loan broker business. Brokers now represent 70% of all home lending in Australia, and more of them are giving Auswide Bank business than ever before. Our experience is that brokers are looking for capable, consistent and reliable lenders who have good value products that are alternatives to the big banks. Our private bank, established over four years ago, continues to grow by winning business from the major banks and regionals, as we simply offer a better personalized, responsive service matched with strong products and value proposition. Our branches continue the important role of servicing our customers, building deposit balances, and assisting customers with their home or personal loan requirements. Our focus remains on improving our capability in the home loan market by focusing on things that brokers and customers value while investing in technology, process improvement, and the quality of our people and data insights. I'll talk a little bit about this further later this morning. I want to turn to slide three of the deck. We continue our profitable growth progress with the context, as I previously stated, now being over five years of continuous improvement. This half delivers another record result with our underlying NPAT up 7.95% to AUD 14.1 million. It'd be interesting just for comparison to have a look back several years ago, so December 2014. Our NPAT then was AUD 6.495 million. Interestingly, our underlying NPAT for the full year for 2014 was AUD 13.04 million. Our half year result is over double that full year result. Our loan book also demonstrated record growth of AUD 253 million for the half year, which is over 2 times system at an annualized rate of 13.14%. We've used the RBA 12-month historic average of 6.5%. I believe the actual spot number is quite lower than that. Investment back into the business has increased as we have further improved our online service to customers, increased our capacity to service more loans through broker introductions, increased our use of external advice on our growth options into the future, and importantly, boosted further our cyber resilience. Pleasingly for the bank and its shareholders, our ongoing profit growth has led to further benefit to shareholders with the announcement of a AUD 0.01 increase in our interim dividend to AUD 0.22 for the half. This represents a payout ratio at the very low end of our 70%-80% policy and a fully franked yield of approximately 7.4% on the closing share price as at the end of December. 7.4%, fully franked, I think stacks up quite nicely against our listed bank peers and against the broader market. On that note, I'll pass across to Bill to take you through the results in more detail. Bill? Thank you, Martin. Good morning, everyone. Following on from Martin's comments, I'll refer you to Slide six of the presentation. The underlying NPAT for half one of financial year 2023 is a record for the bank at AUD 14.1 million, up 7.9% on the prior corresponding period. We're also reporting a statutory NPAT at AUD 14.1 million, which is up 3% on the PCP, which did include non-recurring items. The ongoing strategy of profitable growth is reflected in an annualized uplift in the loan book of 13.1% for half one, more than 2 times system. The total loan book was more than AUD 4.1 billion at the end of the half. The net interest revenue increased 12.6% compared to half one of financial year 2022, an increase of AUD 5.2 million to AUD 46.5 million. We were able to announce a strong NIM result of 194 basis points for the prior year ended June 30, 2022, when many of our peers saw material declines. The NIM has further expanded 8 basis points across half one of the current financial year to 202 basis points. This result was also an increase of 3 basis points on half one of financial year 2022, as reflected in the financial overview table. EPS on an underlying basis was up AUD 0.013 to AUD 0.317 per share. The return on equity was marginally down by 0.2% to 9.9%, a result of the underwritten DRP during the half to raise Tier 1 capital to support our asset growth. The interim dividend increased AUD 0.01 to AUD 0.22 per share and is at the lower end of the payout ratio of 70.9% as the bank supports further growth expectations and strategic investments. The NPAT waterfall chart on page 7 highlights the uplift in net interest revenue, up AUD 5.2 million on half 1 of financial year 2022. Other non-interest revenue remains stable. Although the chart reflects a AUD 1.2 million decline, this relates to the non-recurring item reported in the PCP. The loan book growth and investment in further capacity and efficiencies across the bank are reflected in an uplift in some key expense items. Employee benefits were up AUD 1.5 million across the half year due to the salary increases and investment in new staff and skills. Fees and commissions were up AUD 1.2 million. This included AUD 700,000 in fees related to loan book growth, including broker fees. There was also growth in charges relating to new customer services and new payment platforms. The increase in general expenses related significantly to technology costs and professional fees for ongoing investments. These included digital services, loan processing efficiencies, and strategic advancements such as AI investments to assist customer retention. In addition, there continues to be a focus on cybersecurity measures for the banking systems. The cost-to-income ratio rose to 62.3%, an indication of the investments described above, further enhancing the systems and processes of the bank. The loan book expansion is detailed on page 8, with growth in the half year in excess of AUD 250 million and a 13.9% annualized growth in the home loan portfolio. This reflects strong broker flows and ongoing success in the private bank, which offers a tailored service model to high-net-worth customers. There was an ongoing focus on customer deposits in our funding, with an annualized 12.4% increase in retail deposits during the half year. The continued focus on quality lending and risk management is reflected in the disclosures on page 9. Arrears greater than 30 days past due of AUD 3.9 million is just 9 basis points of the total book, while greater than 90 days past due are at 5 basis points. There is no evidence of stress in the loan book at this point, although we continue to monitor the portfolio as interest rates increase and inflation affects our customers. The arrears have continued to trend downwards, the loan portfolio was supported by advance payments that moved upwards to 5.7% of the loan book, or AUD 231 million at the end of the half year. There was also AUD 440 million in offset accounts, exceeding 10% of the total loans. These arrears do compare favorably with our peers, with the SPIN index for greater than 30 days for other banks at 53 basis points and for regional banks at 101 basis points. Auswide has applied a policy of maximum debt-to-income ratio of 6 times. Less than 5% of our loans are outside this ratio, with no loans above 7 times DTI. In comparison, according to regulatory data, more than 18% of the big banks' loans exceeded 6 times DTI at September 2022. Provisions in reserve for credit losses on page 10 total $6.4 million. The total provision coverage of December 31 was 35 basis points as a percentage of credit risk-weighted assets and 16 basis points of total loans. This compares to arrears of just 9 basis points. The board will continue to monitor economic projections and any signs of stress which may arise in the loan book. The profitable growth and balance sheet strength slides on pages 4 and 5 disclose the ongoing strategy to increase asset growth, net interest revenue, and profitability. The capital adequacy ratio remains strong at the end of the half. Continuing growth will be supported by capital levers, and this includes a planned one-off balance sheet RMBS transaction in the second half of the financial year. The board resolved to increase the interim dividend to AUD 0.22 per share, which reflects an increase in the return to our shareholders while recognizing the ongoing investment in the bank's capacity, technology, and system efficiencies. Thank you. Back to you, Martin. Yeah. Thank you, Bill. We've commenced a new 3-year strategic plan which, at its heart is focused on building on our strong momentum with increased lending and funding capability. We've set a new aspiration along with two familiar ones. You'll see on slide 11 our financial year 23 outlook. The key goals include reaching an AUD 6 billion loan by December 2025 and achieving a 10% return on equity and a cost-to-income ratio below 60%, which a number of you will be familiar with. To achieve this, we will continue to challenge the way we do things across our business, improving our lending capability with a mix of technology and process improvements. Our goal is to continue our acceleration in loan growth and to do this whilst reducing the cost per loan via improved efficiencies. This will assist us to compete in a highly competitive market. Our customer experience and our ability to attract deposits to support our growth will also be highly important. Innovation in our product set, building further deposit partnerships, and providing our staff with the tools that will help them meet our customer needs, as well as attract more customers will feature strongly. Pleasingly, we continue to be recognized for the value we provide our customers with our various products winning numerous awards. Ongoing investment will be required and where able, we will reallocate costs internally, prioritizing where our future opportunities lie, as we have done in the past. We believe the three-year outlook is an exciting one for us. Another area that we will step up over the next three-year period is our focus on M&A opportunities. We are interested in other ADIs, but also on adjacencies such as business and consumer lending opportunities. Our focus will be on niches in these areas where the business can benefit from our funding capability to support well-considered risk and profitable growth. In summary, we continue to grow profitably. We have a high-quality loan book. We've continued to invest for our future. We have an achievable and exciting plan for profitable organic growth over the next three years, and we will be stepping up the focus on M&A opportunities. At this point, I will now hand back to the operator, Gavin, to open up for questions. At this time, if you wish to ask a question, please press star followed by one on your telephone and wait for your name to be announced. That is star one if you wish to ask a question. Your first question comes from the line of Alastair Hunter of Ord Minnett. Your line is open. Morning, Martin and Bill. Thanks for the opportunity to ask you questions. Just if I can start with the exit margin versus your 2.02% sort of half-year average. Where did you sort of exit at the end of December? Yes, I'll take that one. You'll see we haven't published an exit NIM, and that's due to a little bit of a rollercoaster ride as the cash rates are increasing on a monthly basis and the loan book changes and particularly funding. What I can tell you is that our NIM did peak in October, and I think that's pretty similar to what we're seeing across the industry. We did start to feel some pressure from funding costs. I was speaking to our treasurer this morning, who advised me that, you know, some of our term deposits, for example, were getting away in the low to mid-4%. The funding costs are significant, and we've also just gone through an increase to our back book and front book pricing. We expect that the exit NIM was lower than our average reported NIM. It's likely, of course, that that will continue across the foreseeable future as cash rates increase. It is volatile, and it is up and down across the month. We are expecting continued competition and continued pressure from those funding lines. Thank you. Then just flying into, if I use your sort of 10% ROE targeting as sort of I suppose your hurdle rate for new lending perhaps in the housing loan market, just following on from your briefing commentary around sort of very competitive pricing dynamics at the moment in home lending and Reassure that's similar to all your peers. Are you comfortable that there's sort of enough volume growth that meets your credit criteria sort of available at that 10% ROE sort of level? Or are you finding that your growth might require a compromise on financial target? Yeah, thanks. It's a very difficult market right now in terms of the home lending piece, and it's a constant kind of review across where our pricing sits. Looking across where competitors have their pricing, looking across the various different components of LVR and serviceability kind of capability, and looking to sort of try to get the balance right in terms of growth and margin protection. It's not an easy job right now. It's kind of been a difficult job over quite a few years trying to keep net interest margin relatively kind of stable. To date, we've been relatively successful at that. I think, one of the areas we have stayed out of, and we will continue to stay out of for as long as we possibly can, hopefully, completely is the area of cashbacks, which are now proliferating the market. We are seeing that that's creating a level of interest in customer behavior, customer behavior that we primarily hear from our brokers actually, whereby they have some clients that are now hopping between lenders, regularly to be able to pick up the various amounts of cashback that are on offer. When you've got some lenders out there, particularly some of the online ones, owned by the bigger banks that are offering some of the cheapest pricing in the market, as well as, you know, up to AUD 6,000 worth of cashback, that's quite a difficult market to compete in. Nonetheless, we are succeeding. We are constantly monitoring the market for pricing. We're constantly monitoring where we can find the opportunities within our risk profile to gain a little bit more margin where we can. Just to follow up, then I'll pause, let others ask questions as well. If in terms of expense flexibility, if I suppose the margin volume environment sort of gets a little bit tighter with those headwinds you're alluding to, is there a bit of flexibility in the cost side to sort of offset that and hopefully see the 62% cost ratio go down? Yeah, I think, I think that is right. We've probably been going over the course of the last 12 months, we've probably taken the opportunity to invest more into the business. We've been expanding our capability across our various different lending areas, our private bank, and particularly our broker business, where we've applied some more technology investments, and we've also put some more people on. Certainly we've taken the opportunity to take advantage of the momentum we have in our growth and the growing reputation we have, particularly through that broker and private bank sort of space. We do find things get a little too hot in relation to pricing. We think that the opportunity to grow profitably and to achieve our ambitions doesn't necessarily come from accelerating our loan growth. There's certainly option for us to look at some other areas to achieve ongoing profit improvement. That would be some sharper focus around the cost management. Thank you. As a reminder, if you wish to ask a question, please press star followed by 1 on your telephone. That is star 1 if you wish to ask a question. Excuse me. Your next question comes to line of Tim Kelly from Australian Ethical Investment. Your line is open. When you start to discuss the identification of M&A targets to sort source asset growth, would you see that as being more in the listed space or attempting to merge with a mutual, which of course comes with other difficulty? Yeah, there's some, there's a couple of areas there, I think. Certainly the attempt to reach out to mutuals will continue, and the level of success or otherwise there, you know, remains with the challenges that, you know, we kind of are aware of. That effort will continue, and I think with the environment that we're in and the environment ahead, then we, you know, we might seeSome more possibilities arise there. We might, we might not. Outside of that, we're also kind of looking at possibly listed or even privately owned businesses that kind of operate in what we sort of see as adjacencies. We did, you know, commence business banking operations some years ago, and we put that on ice as we went into kind of COVID for a couple of reasons. One, the great uncertainty around business impact from COVID. Very importantly, the need for us to invest if we were going to take a material sort of step forward in this area to invest quite heavily in systems to be able to deal to that sort of growth. We do have interest in potentially private or even listed companies that operate in that sort of business or consumer finance space that actually have their own operating systems and potentially even their own lending systems so that we could treat those as near standalone with oversight in terms of risk and with the advantage that we would be able to bring in terms of funding versus the costs that the challenges of funding some of those companies continue to face. If you were looking on the funding side of the book, at the moment, there was the flag there of the ability to access the RMBS. Would you be expecting as TFF rolls off to be accessing more from senior unsecured wholesale markets? Yeah. It's obviously something we have a clear focus on. The RMBS transaction, which we're proceeding with now would certainly be of great assistance in that process. Our ideal would be to increase obviously our customer and retail deposits and continue to do so, but we recognize that that's very competitive. We've had some deal of success, as we've said, with increasing those customer deposits. That would be our first objective. We do have the RMBS transaction in our warehouses and several other funding lines to support us as the TFF runs off. It's the ideal and then the backup processes that we have in place. Sorry, our total funding under TFF was 100. AUD 150. AUD 150 million. Yep. Would you see additional competition on the term deposit space at the moment? Yeah, absolutely. We are obviously making it a priority, as I said, for customer deposits, but we do need to be in the market and competing with particularly to get those large term deposits which we are doing. I think as I indicated earlier, term deposits, large long-term term deposits over 4% are not uncommon now. We're certainly competing with them. There's a lot of competition to raise those deposits, both through our branches and through the broker networks that we use to do that, and platforms. Yes, a lot of competition that's coming right across the industry, and we are competing to make sure that those retail deposits are coming in for funding. Last of all, on the loan growth being above system, would you see that persisting in the near term, considering just the tone of the opening comments about the uncertain market ahead? At this stage, what we are seeing is really high quality business coming our way. There's been a fundamental shift though, in terms of the makeup of that volume. If we go back, 12, 18 months ago, we were seeing about 70% of that flow coming through from new purchases, and we had, you know, reasonably strong activity in the first home buyer market. Looking at our originations today, it's flipped on its head. We're now seeing about 70% of the flow coming our way being refinances and about 30% being new purchases. Quite interesting. Certainly, the refinance market is up and away. The good thing about that is that we're seeing a great level of quality, so low LVR lending. The challenge with it is ensuring that we can get that in the door at as low a cost as we possibly can. Trying to ensure that the funding costs help to support, along with our operating costs, i.e. cost per loan, we're able to get that balance right, based on the price that we have to offer in the market to get the volume. There lies the ongoing high level of attention that we need to place on loan growth. As it stands, we do have ambition to continue for the growth. If we do see that that growth is not contributing in the way to our profit, and that return on equity ambition that we've spoke about before, then we will kind of necessarily adjust to ensure that we get the right balance as we have done in the past. Alongside that, increased churn that's happening, where you've got 70% being refinanced in. What about the other side of the book of people, refinancing away? Are you seeing more of that churn out? We put a lot of effort into that actually, because we recognized this was a challenge for us as well as everybody else quite some time ago. Over the last 12 months, we've invested in some retention AI called Elula, which had a little bit of time in our system now. That's been learning and developing and delivering some positive outcomes for us as it's predictive technology. We also boosted the skills and size of our retention team. The impact of that has been that for the months of January and the months of February, we've actually seen our level of refinance out decline. That's what we want to see, and we'll work hard to try to ensure that we are not growing the front book, effectively to have to replace the back book. We, at the moment it's looking good, but that's an area that we will be putting a lot of attention on, continuing to put a lot of attention on, over the remainder of this calendar year, I would say. Thank you. Thank you. If you wish to ask a question, please press star followed by one on your telephone and wait for your name to be announced. Your next question comes to the line of Alastair Hunter of Ord Minnett. Your line is open. Thank you. Just a quick question on capital levels. Just to understand where the pro forma numbers, the 10.7 CET1 for December, where is that landed post the output changes? Is there a range on that new basis that you've sort of set as to where you want that to be going forward, please? Yes. The 10.7, I think as we, as we put in the presentation, was up 64 basis points as a result of the new framework, and 77 basis points for the total capital altogether. We will continue with our, you know, our board target, which is in excess of the Prudential target. That's just sort of moved in a similar fashion to what it was before as we've increased the capital that's available. In addition to that, of course, there's movements in the risk-weighted assets. All in all, 77 basis points increase in the capital and 64 basis points in Tier 1. we've also seen, as it's been reported in the press, changes in the buffers, of course, from the regulator, which brought it to the comments that Martin made earlier that's been pretty well, mutual rather than being beneficial to the bank. Yeah. I think there was a view early on that banks would see potential benefit from those changes, but that was without the information to hand regarding APRA's attention to buffers. Mm-hmm. Yeah. I think most have been reporting a pretty neutral position on that. Thank you. Then just to clarify, rough approximation or range for that RMBS sort of size that you're looking at? Yeah. We have a pool cut, and of course, that may vary, but we have, as you can imagine, with securitization down at a very low level, we have a significant pool of loans to draw on. We'll monitor our loan book growth and our funding needs. Let's estimate at the moment that AUD 350 million-AUD 400 million would be our desired transaction, subject to changes in growth and funding as we move forward. Thank you. No more questions from me. Thank you.