Auckland to fuel SBS's future growth
SBS Bank has increased its net surplus 5.4% to $22.0 million and is now looking to the Auckland lending market to grow its business.
Wednesday, June 25th 2014, 11:44AM
SBS Bank chief executive Ross Smith said the challenge for the bank was getting a good profit and growth. He is happy with the profit level, but not the amount of growth.
It is now looking to the Auckland market to address the growth issue and is using mortgage brokers up north as the bank does not have any branches there.
Smith says generally the bank doesn’t get a lot of broker business in areas where it has branches.
SBS is also putting mobile managers into the Auckland market with the first one starting soon
“Initially an Auckland regional manager was appointed to service mortgage brokers in the Auckland area.
“However the success of this move prompted the establishment of a centralised lending unit based in Invercargill. The unit is a virtual SBS branch and now provides support to all mortgage brokers throughout New Zealand,” Smith said.
In addition to the increased range of products and the move into the Auckland market SBS have focussed on developing and up-skilling staff to ensure they are well equipped to provide superior customer service in this ever changing market.
Smith, who will be stepping down as CEO at the end of July after 22 years at the helm, said he was proud to be leaving SBS in the hands of a great team and in far better shape than when he came on board in 1992.
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