NZ banking minnows Cooperative Bank, SBS play up Kiwi parochialism amid flat earnings

Mon, 28 May 2018

By Paul McBeth May 28 (BusinessDesk) - Cooperative Bank took a crack at its larger Australian rivals shipping profits across the Tasman while reporting flat annual earnings and an unchanged rebate for its customer-owners, while fellow minnow SBS Bank also talked up its local ownership while posting a small dip in profit. The two lenders are in a different league to their Australian rivals, with the value of loans between them totalling about $6 billion, compared to $118.5 billion sitting with the nation's largest lender ANZ Bank New Zeal...

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