Bank Australia yesterday released its 2017 financial results showing strong growth in both customer numbers and its balance sheet in its 60th year. (This mutual bank started off as CSIRO Co-operative Credit Society, with 40 members.)Bank Australia's total assets grew by 28 per cent over the previous year's mark to total more than A$5.1 billion, while its customer base grew by 12.5 per cent leaving the bank to generate a stable net profit after tax of $23.5 million."Our business achieved strong deposit and loan growth well above our targets at 23 per cent and 33 per cent respectively, while our profit result was also strong despite pressure on interest rate margins and challenges in the wider economy," managing director, Damien Walsh, said."Customer-owned reserves grew by $49 million to $485 million and the bank's capital adequacy ratio remained very strong at 17.05 per cent, so we are well positioned to continue growing and providing customers with highly competitive pricing, products and services in the years to come," Walsh said.Bank Australia, in its search for scale, merged with another mutual, Intech Credit Union, which has assets of around $330 million, serves some 10,000 customers working in the technology sector and has several branches in Sydney and Melbourne.The merger, effective from 1 January 2017, established Intech Bank as a division of Bank Australia, which hopes to grow customers employed in the technology sector throughout Australia's eastern states.Walsh also touched on the next big thing; to be ready and waiting in an orderly queue with the start time for the New Payments Platform fast approaching."Over the coming year, we will continue investing in digital technology for the benefit of our customers, building awareness of our brand, and developing the capability of our staff as we focus on strengthening our position as Australia's leading customer owned responsible bank," he said.