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PSIS says margin on deposits more than halved
Wednesday 17th of June 2009
The difference between its floating rate and six month term deposit narrowed to 70 basis points from 180 points in June last year as the central bank slashed the official cash rate 5.25 percentage points to deal with the global economic downturn. Deposits rose 8% to $1.1 billion and helped underpinned the cooperative's liquidity in a year where it made an underlying profit of $3.9 million.
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