17 Jun 2010

SBS profit up

12:32 pm on 17 June 2010

SBS says its operating surplus rose by almost $1 million, to $19.4 million in the year to March.

After-tax profit was $15 million, the highest since 2007.

Chief executive Ross Smith says it was a solid performance despite the most difficult economic period in the bank's 141 years.

Mr Smith says liquidity levels increased 6% to $461 million during the period