Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


SBS Bank records operating surplus of $22.0 million

25 June 2013
MEDIA RELEASE

SBS Bank records operating surplus of $22.0 million.

SBS Bank is pleased to report an excellent profit result for the 2014 financial year, with operating surplus up 5.4% to $22.0 million.

SBS Bank Chief Executive Ross Smith said the increase in both operating surplus and lending at the same time as the creation of a centralised lending team, and the launch of SBS’ upgraded personal internet banking service had all been highlights of the past year.

“The emphasis SBS Bank put on building relationships with its members, through a greater range of products and increased branding along with a dedicated team of staff, has resulted in a near-record profit for the year ended 31 March, 2014.

“While it has been a very competitive market, SBS has again showed it has the resources to actively compete in the market against the larger foreign owned banks and build further on its past success,” Mr Smith said.

To help others experience SBS’ superior customer service, the bank has entered the Auckland market, in a move designed to take advantage of opportunities in the largest growth area in the country.

“Initially an Auckland regional manager was appointed to service mortgage brokers in the Auckland area However the success of this move prompted the establishment of a’ Centralised Lending Unit based in Invercargill. The Unit is a virtual SBS branch and now provides support to all mortgage brokers throughout New Zealand,” Mr Smith said.

In addition to the increased range of products and the move into the Auckland market SBS have focussed on developing and up-skilling staff to ensure they are well equipped to provide superior customer service in this ever changing market.

Mr Smith, who will be stepping down as CEO at the end of July after 22 years at the helm, added that he was proud to be leaving SBS in the hands of a great team and in far better shape than when he came on board in 1992.

SBS Bank will hold its Annual General Meeting on the 6th floor of the Kelvin Hotel, Invercargill, on Wednesday 23rd July, at 2:30pm.

For a copy of SBS Bank’s Annual Report, please visit:
http://www.sbs.net.nz/AboutSBS/SBSInfoandNews/Financialinformation.aspx

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Air NZ Wine Awards: Victory For Villa Maria As Pinot Noir Thrills

It was a night to remember as Villa Maria Estate picked up one of the highest accolades of the evening, the O-I New Zealand Reserve Wine of the Show Trophy, at the 28th Air New Zealand Wine Awards. The Villa Maria Single Vineyard Southern Clays Marlborough ... More>>

ALSO:

Future Brighter Money: RBNZ Releases New Bank Note Designs

New Zealand’s banknotes are getting brighter and better, with the Reserve Bank today unveiling more vibrant and secure banknote designs which will progressively enter circulation later next year. More>>

ALSO:

Commerce: Supermarket Inquiry Finds No Breaches By Countdown

The Commerce Commission inquiry into anti-competitive behaviour by Countdown supermarkets, alleged by former Labour Party MP Shane Jones, has found nothing to warrant prosecution, although it warns supermarkets to take care in the way they communicate... More>>

ALSO:

Crown Accounts: English Flags ‘Challenge’ To Budget Surplus

Finance Minister Bill English is warning next month’s half yearly fiscal and economic update from the Treasury may not forecast a budget surplus, saying that returning the government’s accounts to surplus in 2015 will be “a challenge”, given the decline in commodity prices and weak global inflation. More>>

ALSO:

March 2015: Netflix To Launch In Australia And New Zealand

World’s Leading Internet Television Network to Offer Original Series, Movies, Documentaries, Stand-Up Comedy Specials and TV Shows for Low Monthly Price More>>

ALSO:

Price Of Cheese (Is Up): Dairy Product Prices Fall To Five-Year Low

Dairy product prices fell in the latest GlobalDairyTrade auction to the lowest level in more than five years, led by declines in rennet casein and skim milk powder. More>>

ALSO:

Gordon Campbell: On The Australians Scoring Trade Points Against Us With The Chinese

It hasn’t been a great year for Trade Minister Tim Groser... To top it off, Australia has just signed a FTA with China that has far better provisions on dairy exports than what New Zealand currently enjoys in our own FTA with China. More>>

ALSO:

Iwi & Local Consultation: Oil And Gas Block Offer 2015 Begins

Energy and Resources Minister Simon Bridges today announced the start of the Block Offer 2015 process for awarding oil and gas exploration permits. More>>

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news