Newcastle Permanent has released its results for 2016/17. Top line highlights include  a A$38.9 million profit; almost $11 billion in total assets; and higher home loan and customer deposit portfolio growth rates than any of the Big Four banks.The mutual experienced an 8.5 per cent home loan growth rate, 1.3 times the sector growth rate of growth of 6.6 per cent, driving total loans to $8.7 billion.Customer deposits also increased by 11.1 per cent, propelling total funding to $9.9 billion, and helping to make Newcastle Permanent the country's second largest customer-owned banking organisation. "This year we generated $92.7 million in long-term value for our customers, comprised of $38.9 million in net profit after tax and a $53.8 million mutuality dividend (this is a concept dating back to the 1990s, and is a notional measure of how much better off customers may be, where a mutual's product prices have been lowered or savings rates increased in place of a dividend.)CEO Terry Millett further highlighted that his mutual had taken market share from incumbents in other cities:"We refinanced almost half a billion dollars in home loans from the four major banks and their subsidiaries and now have almost $2 billion in home loans in the Sydney market, showing that customers are voting with their feet for a better way of banking with us," Millett said.