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SBS Bank putting the heart back into banking

As it celebrates its 150th birthday, SBS Bank has introduced a new logo and a great mortgage rate as part of its journey to shake up New Zealand banking.

SBS Bank chief executive Shaun Drylie said while a rebrand in 2015 had positioned SBS well as a challenger bank, it was time to move on to the next stage of evolution.

“But this is more than a logo change. It’s a reflection of our people, our business, our decision-making and our future.

“We want to show New Zealand what’s really at the heart of our business. We feel we’re the only bank that can genuinely wear its heart on its sleeve.

The bank was also launching a 3.39% p.a. mortgage rate fixed for two years, along with a cash incentive, a move that Mr Drylie said showed the bank was serious in its aspirations.

“We think this rate is a great way to introduce SBS Bank to those around the country who might not know too much about us but are looking for a genuine bank that really cares about its customers,” he said.

SBS Bank was created in 1869 to help Southlanders achieve the dream of owning their own home, something it has been extremely successful at for the past 150 years.

“Now we’re a fully-fledged national bank with a full suite of banking services, and a branch network across the country. We’ve also invested in digital technology that enables anyone to bank with us from anywhere in the country at any time of day or night,” Mr Drylie said.

“But we’re done being New Zealand’s best-kept banking secret –it’s time to let more people know about the great things we do for our Members and the communities we operate in.

“And best of all, our profits don’t go off-shore – they’re reinvested back into the business to enable us to continue to do what we do best, providing value to our customers.”

There had been dramatic changes in society in recent years and it had become clear that customers no longer wanted shareholders and profits favoured ahead of the wellbeing of customers and communities, Mr Drylie said.

"It's about balance. We see that time and time again with people questioning the purpose, impact and values of who they deal with. There is a real quest for a deeper, more authentic and genuine relationship with businesses – customers want to deal with people with that human touch.”

That business philosophy had served to reinforce for SBS and it was clear that its 150-year-old way of doing things was what customers still wanted from a bank today, he said.

SBS also has a wider duty and desire to consider the greater community and the part it can play as a good corporate citizen, Mr Drylie said.

"We are committing to do more through our Corporate Social Responsibility (CSR) and sponsorship programmes and to how we can support those people or organisations doing good things in the communities we operate in.

“We’re genuine about wanting to put the heart back into banking in New Zealand.”

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