Like many organisations and government agencies, IBA has been impacted by events like the recent bushfire disaster and the global pandemic.

Uncertain, changing circumstances presented IBA customers with personal and financial hardship. To ensure IBA put effort and resources where they were most needed, business priorities quickly pivoted to create a Bushfire Crisis Support package and to work closely with NIAA to establish a $50 million COVID response package.

264 housing customers and 729 business customers were assisted with bushfire and COVID-19 support to 30 June 2020, while IBA simultaneously focused on assisting as many customers as possible with standard home and business loans, and support and investment outcomes.

While Q1 and Q2 were relatively normal, IBA continued to balance ongoing issues with capital constraints and growing customer waiting lists, while demand for products and services has remained very strong.

IBA’s leadership team and Board continues to build on strong relationships with government and stakeholders to ensure its ability to assist and support Aboriginal and Torres Strait Islander peoples in home ownership, thriving businesses and investing opportunities remains stable.

While the demographics of IBA customers are broad, the average Indigenous Australian is much younger (median age 23) than the rest of Australia’s population. IBA is strongly focused on building its relationship with these young people. Efforts continued to engage with Indigenous youth through our Futures Forum program, and to leverage the momentum built in 2018-19, despite the difficulties of running face-to-face activities. IBA is continuing to invest in systems and online resources to bring more programs, products and services online.

There are ongoing opportunities to ensure wealth is invested wisely to benefit both current and future generations. IBA must keep innovating and delivering the right products to customers, using their feedback to guide the path ahead.