At Judo Bank we’re determined to give Aussie businesses a fairer go. We believe that in business, relationships matter; it’s why our business bankers take the time to truly understand you and your business, face-to-face.
A bank that likes to say yes to businesses
At Judo Bank, we’re bringing back the craft of relationship banking to transform banking for Australia’s small and medium-sized businesses. Built from the ground up by a small group of deeply experienced and highly credentialed business banking professionals, Judo Bank is providing a genuine alternative for SMEs to secure the funding they need and the service they deserve.
Our SolutionsWe provide business lending solutions starting from $250,000 for small to medium-sized businesses. Our team of experienced business bankers are currently located in Melbourne, Sydney and Brisbane, with many more locations to come.
We are delighted to introduce the 2019 Annual Review
Our first since being granted a full unrestricted banking licence in April. So much has happened in the last twelve months, it would be an understatement to say 2019 has been a big year.
Judo Bank, in the words of our valued customers.
Cole McInnes, Dealer Principal John Deere
Judo Bank in the News
Business and the curse of short-term incentives
The banking industry, in fact the corporate world in general, is undermined by the very things that are supposed to drive it forward – that is, short term incentives (STIs), otherwise known as cash bonuses.
There is a fascinating experiment taking place in running a bank without bonuses, led by two former NAB bankers who have turned their backs on the STI culture: Joseph Healy and David Hornery. It’s called Judo Bank, a specialist SME bank started four years ago.
Judo pays only two forms of remuneration: salary and equity.
Sharing blame for bank’s faults
When I cite events critical of National Australia Bank in Breaking the Banks, some people might reflect that I was a senior executive there between 2007 and 2014, and ask what role I played and what responsibility do I take. These are legitimate questions.
During that period, I was on the group executive committee, the group risk management committee and the group asset and liability committee of the bank. I ran the business bank, NAB’s largest division which accounted for 50 per cent of the bank’s profits, in most of the years I was there.
During most of my time at NAB, I reported to chief executive Cameron Clyne, who I consider to be a person of high integrity.
I used to compare the NAB executive team’s banking experience to ANZ, which I knew well. There was no comparison. ANZ was headed by Mike Smith, an international banker who had spent much of his career at HSBC, and had within its ranks Phil Chronican, a career banker mainly at Westpac, Bob Edgar, who had been around the senior ranks at ANZ for decades, Shayne Elliott, who had extensive experience at Citibank and ANZ, and Graham Hodges, who was a seasoned banker.
Why the banks should be broken up
While the global financial crisis exposed financial vulnerability, the “Australian financial crisis” - as Joseph Healy describes it in his new book - was one of legitimacy.
And this local crisis "of culture, purpose and social licence” will be tougher to solve than problems of liquidity, he suggests in Breaking the Banks (Impact Press).
Healy's offering comes after a flurry of banking royal commission-inspired books penned by journalists. But the career banker brings a different perspective. He’s an industry insider, but one who has broken away from incumbents (he's worked at NAB and ANZ) to co-lead the creation of one of Australia’s new banks, Judo.