St.George Bank, part of the Westpac Group (ASX:WBC) and one of Australia's leading retail and business banking brands, says it completed the 2010 financial year in a good position, with an increased lead over the major banks in customer advocacy and continued targeted investment in its front-line business.

St.George Bank reported a sound full-year financial result, with cash earnings of $1,041m, stable on the full-year 2009, following growth in home lending, personal lending and deposits. Second-half cash earnings of $569m were up 21 per cent on first-half 2010, driven by lower impairment charges.

"St.George has continued to grow its lead over the major banks in customer advocacy, which has driven our excellent customer retention rates and continued growth in customer numbers, particularly through our proprietary channels," said St.George Bank chief executive Greg Bartlett.

"Our customers are also doing more of their banking with us, with our average products per customer increasing this year on the back of our expanded product offering, particularly in credit cards, wealth management and SME banking products."

Mr Bartlett said St.George had continued to make disciplined investments in its business this year, which has strengthened the St.George brand and customer experience.

"This includes the opening of nine new branches in key growth locations, more than

290 additional customer-serving employees, investment in our 'Big Enough, Small

Enough' brand proposition and the roll-out of a range of new products and esolutions for our customers," he said.