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

 

SBS already contributing to Waikato economy

First North Island branch of SBS opening in Hamilton week of 16 December (either Mon/Tues)

SBS already contributing to Waikato economy

The doors have yet to open to Southland Building Society¹s Hamilton branch, but the largest New Zealand owned mortgage lender has already sunk half a million dollars into the local economy.

The first of several such branches planned for the North Island, SBS is committed to making Hamilton the flagship for the northern retail network, said Manager Hamilton, Steve Beale.

"We¹ve put our hearts into this project and we believe that the people of Waikato will embrace the SBS story. But first, we have to show that we¹re here to stay, that we¹re committed to the Waikato for the long haul."

The half million-dollar investment to date includes leasing arrangements and the interior development of retail space in the landmark Novotel building, set-up costs, marketing and recruitment.

"We¹ve already employed three local women, Lea Hobbs, Lisa Wiles and Carole Findlay, and we¹ll be looking for another team member in the New Year."

With total assets at 30 September of $960 million, including mortgage advances of $906 million, SBS expects to break the $1 billion mark in mortgage advances next year.

"Hamilton is now an integral part of our growth plans, and we¹re looking forward to getting alongside the community and showing everyone just how we can make a difference."

"In the next financial year alone, we¹ll contribute at least another half a million dollars to the local economy, just through having a physical presence here," said Mr Beale.

SBS is the ultimate "people¹s bank" and the move into a provincial region such as the Waikato demonstrates that, said Chief Executive Ross Smith.

"We¹re New Zealand owned and operated, and 100% answerable to our members. The move into the Hamilton market demonstrates that in a very competitive industry, any gaps in the market are quickly identified and closed.

"Our members become stakeholders and our investment back into the community recognises that support."

Established in 1869, SBS is New Zealand¹s largest registered Building Society accounting for more than half the assets in the Building Society sector.

SBS already has branches in Nelson, Christchurch, Dunedin, Queenstown, Gore and Invercargill, and serves members nationwide through a dedicated Contact Centre.

For further information: Tracey Lyall or Gerard Blank 03 365 1445 025 229 1838 or 025 303050

SBS Backgrounder

… SBS (Southland Building Society) is the largest New Zealand owned home mortgage lender in the country.

… SBS has in excess of 40 000 members.

… SBS recorded a record pre-tax operating surplus of $11 million in the last financial year, a 22% increase on the 1998-1999 financial year.

… Total assets of $960 million as at 30 September 2000.

… SBS has branches in Hamilton, Nelson, Christchurch, Dunedin, Queenstown, Gore and Invercargill.

… 110 people are employed by SBS throughout the country.

---------------------------- Corrie de Vries Glass Tower Public Relations Level 8, 148 Victoria Street Christchurch Ph (03) 365 1445 Fax (03) 3651446 Mobile (025) 721768


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Snail's Pace: Aucklanders Face Frustrating Commute Over Harbour Bridge

Journeys into Auckland's CBD took longer than usual as traffic banked up around the damaged Harbour Bridge. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO:

SAFE: Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea

Livestock carrier Gulf Livestock 1 sent a distress signal at 4:45am NZT yesterday in the East China Sea. The area is affected by Typhoon Maysak. At 4pm a patrol plane spotted a lifeboat - with no people in it - and a man in lifejacket nearby. The ship ... More>>

ALSO:

FMA: Kiwisaver Fees Don't Match Performance

The Financial Markets Authority (FMA) today published an independent report into the passive and active investment management styles [i] used by KiwiSaver providers. The FMA commissioned MyFiduciary to test the extent that KiwiSaver providers were ... More>>