Friday 31st May 2002 |
Text too small? |
The result is up 20% on the previous year in what has been a vintage profit year for all the banks.
TSB will pay a $4.1 million dividend to its owner, the TSB Community Trust.
Funds on deposit at March 31 were $1.48 billion, up 14% on the previous year.
The home loans portfolio grew to $928 million. The bank's capital adequacy ratio stood at 15.03% compared with the minimum 8% recommended by the Reserve Bank.
The country's smallest bank, TSB has differentiated itself from its mostly Australian-owned competitors by charging no fees. This has made it very popular with its customers. This year it won for the third year in a row the "best bank" accolade in University of Auckland's annual research into consumer attitudes to banks.
This year it faces competition from Kiwibank, the "people's bank" set up by Deputy Prime Minister Jim Anderton as a response to the main banks' much complained-about fee structures. Kiwibank, however, charges fees, albeit at a lower level than the main banks.
No comments yet
NWF - IMPLEMENTATION OF SCHEME OF ARRANGEMENT
EROAD Publishes FY25 Group Climate Statement
Synlait provides performance update
Air New Zealand Chief Executive Officer Appointment
July 30th Morning Report
IKE 1Q FY26 Performance Update
July 29th Morning Report
General Capital Annual Shareholders Meeting Results
MEE - Receivers and Liquidators appointed to King Honey
2 Cheap Cars Group Updates Performance Outlook for FY26