Second bank pulls out
PA Tauranga A second regional bank, Trusteebank Westland, has pulled out of the proposed new Trust Bank group. Westland, the smallest of the regional banks, follows Trusteebank Auckland, which pulled out of the group just before Christmas. The withdrawal leaves only nine of the 12 regional trustee banks still with the new group. Trusteebank Taranaki had decided to remain independent from the outset The chief executive of the new banking group, Dr Donald Brash, said from his Pukekohe home on Saturday that the loss
of Westland was “a disappointment” But it was understandable, he said. Auckland and Westland were closely linked through use of a joint computer system. “Even without Auckland and Westland we are still looking at combined assets of around $3 billion, which will make us larger than at least two of the established trading banks in New Zealand. So our ability to provide services is not going to be affected.” Dr Brash said it was proposed the headquarters of the group remain in Auckland, even though the group has no commercial presence there at the moment.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19870112.2.33
Bibliographic details
Press, 12 January 1987, Page 3
Word Count
183Second bank pulls out Press, 12 January 1987, Page 3
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.