TSB Bank's first-quarter profit falls after restructuring
The rise in costs reflects the personal and rental costs of opening two new branches in Auckland.
NBR reporter Jenny Ruth talks about TSB Bank on NBR Radio and on demand on MyNBR Radio.
Jenny Ruth Wed, 02 Sep 2015
TSB Bank’s first-quarter net profit sank 14.5% but mostly because its 26.4% stake in Fisher Funds Management has been moved from the bank to a newly-created group.
The other key factor in the profit decline to $13.4 million for the three months ended June was that its operating costs jumped 22% to
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