The Co-operative Bank has shared $2.1 million in rebate payments with its customers, with customers in Rotorua receiving a share of $64,512.
The Co-operative Bank is the only New Zealand bank to share its
profits with its customers and the payout comes off the back of a solid year.
More than 15,000 new customers joined the bank in the 12 months to March 31, taking
its customer base to 156,000.
This marks the fifth year in a row since it became a registered bank that it will share its profits directly with its customers, said chief executive David Cunningham.
"Our bank is owned by each and every one of our customers: we much prefer seeing our profit going into their pockets rather than anyone else's.