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
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens