TSB Bank delivers big jump in profit

  • TSB Bank, the Taranaki community-owned bank, more than doubled annual profit, bolstered by a gain in writing back some of the value in its debt exposure to stricken state-owned coal miner Solid Energy.

Net profit rose to $61.6 million in the 12 months ended March 31, from $25.5 million a year earlier, the New Plymouth-based bank’s annual report said.

READ  MORE VIA NZHERALD

tsb

Net profit rose to $61.6 million in the 12 months ended March 31, from $25.5 million a year earlier, the New Plymouth-based bank’s annual report said. Photo / Getty Images

Leave a Comment

Filed under New Zealand Property & Real Estate News, Uncategorized

Leave a Reply