Mortgage News

TSB and SBS banks show divergent trends

Monday 29th of August 2011

Invercargill-based community-owned SBS Bank's mortgage book shrank $10 million to $1.8 billion in the three months ended June while Taranaki-based TSB Bank's book grew $28.4 million to $2.39 million.

SBS finance general manager Tim Loan says the major reason for his bank's mortgage book shrinking was the fact about 25% of its business is in Christchurch and its customers in that city are...

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