Monday, 23 March 2009


Going strong for 140 years
- The Southland Building Society. We blogged on it when it became as bank.
Since then it has attracted another $200 million in deposits...

Well done guys.


Anonymous said...

It's going real good alright, though compare their financials with TSB & it doesn't look quite so great.
As an aside I wonder if it'd be a bank if not for the government deposit guarantee.

Sally said...

Have they lent "big" to the dairy sector?

John Q Public said...

Sally, very likely. TSB are the only NZ bank (as it were) with a BBB S&P rating, so what's SBS's? And yes, they did become a bank to take advantage of the guarantee, as BS's were initially excluded.