4 Sep 2009

SBS Bank increases earnings

11:49 am on 4 September 2009

SBS Bank has seen a modest increase in earnings in the three months to June.

The co-operative made an operating surplus of $5.4 million in the June quarter, an increase of 2% on the same period a year earlier.

The bank also increased its capital reserves by 8.5% over the quarter to $223 million. Retail deposits rose to $2.2 billion.