Invercargill-based SBS Bank talks up presence in Auckland market

Tue, 24 Jun 2014

By Pam Graham June 25 (BusinessDesk) – SBS Bank, the former Southland Building Society, has reported a 15 percent rise in bottom line profit it attributes in part to servicing Auckland mortgage clients from Invercargill. The surplus of $15.64 million in the year to March 31, 2014, was up from $14.34 million the previous year and was achieved on interest income of $169.94 million, down from $176.93 million the previous year. Operating profit rose 5.4 percent to $22 million. “Initially an Auckland regional manager was appointed to servi...

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