St George Bank acting chief executive Paul Fegan has committed the bank's institutional and business banking division to maintaining double system growth in the year ahead. IBB was - according to the bank, at least - the standout segment for St George, which announced its 2007 financial results yesterday, and Fegan said the performance was sustainable. Most of IBB's growth came from dealing with middle market customers. Middle market receivables were up 26.5 per cent to $24.1 billion in the year to September. St George has cited Cannex data showing system receivables growth in that segment at 12 per cent for the year.Whether this Cannex figure is a credible measure of system growth in business lending is another matter.Australian Prudential Regulation Authority data (already cited in the first article) show growth in lending to business of 23 per cent in the 12 months to September 2007 and 26 per cent of the last six months are annualised. Reserve Bank of Australia data show a similar trend. Both these indicators have their own flaws.On this basis St George's business bank is growing at, and not double, system.Still, a key trick in business and markets is to define your own success, and who's complaining? Shares in St George Bank increased almost three per cent yesterday, about twice as good as for the banking index.IBB's profit before tax, up 15 per cent to $480 million, made up 28 per cent of St George's overall result. Retail banking contributed 46 per cent of the total, with a 10 per cent increase in pre-tax profit; BankSA contributed 14 per cent, with a 13 per cent increase in pre-tax profit; and wealth management made up 12 per cent of total earnings, with a 21 per cent increase in pre-tax profit.The bank reported net profit of $1.163 billion, an increase of 11 per cent over 2006 earnings. After adjusting for a $3 million hedge accounting item, the bank reported a cash profit of $1.160 billion - up 13.1 per cent on the previous year.Earnings per share were up 11.8 per cent. The 86 cents a share final dividend was up 11.7 per cent. Return on equity was up from 22.9 to 23.2 per cent.Fegan said the bank's growth in the middle market was due to continuing investment in personnel - relationship managers and account executives. He said: "We have invested in staffing ahead of portfolios getting full."The other apparent success factor is the bank's industry specialisation strategy. St George has teams devoted to six industries - manufacturing and wholesale, professionals, hotels and leisure, aged care and health, property and construction, and automotive finance. Consultants Jones Donald Strategy Partners ranked St George number one for business customer satisfaction with relationship managers in its survey this year. Fegan said customer satisfaction was a differentiator for St George in business banking because it is a market that relies on good relationships. In a report published in August, East and Partners found that St George had no middle market customers that