TSB posts 21pc profit rise

TSB Bank has reported a 21 per cent increase in annual profit and noted the contrast in performance with foreign banks and finance companies.

The record pre-tax profit of $74.3 million in the 12 months to March 31 is up $13.1 million on the same period last year.

The bank said it continued to experience exceptional growth with depositors' funds reaching $4 billion.

- NZPA