
TSB Bank boosted commercial lending by 29%, to $222 million, in the March year, its annual report shows.
The total loan book grew by 3%, to $7.7 billion.
That comprised 13% commercial, up from 10% in the March 2024 year, while residential lending shrank from 86% to 83%.
Agricultural (3%) and personal lending (1%) were unchanged.
The bank posted a pre-tax profit of $57.6 million, up 13% from a year earlier, and a net profit of $41.2 million.
Net operating income rose by $7.8 million to $209 million and operating expenses fell by $1.7 million to $149.7 million.
Net interest income was 3.5% higher at $192.2 million.
Return on average shareholders equity was 5.4%, up from 4.6% in 2024.
Deposits rose by $185 million or 2%, to $8.7 billion.
In a joint statement Chairman Mark Darrow and CEO Kerry Boielle called on policymakers "to amend capital settings and introduce true proportionality in legislation to ensure New Zealand-owned banks like TSB are given a level playing field to better compete."
Some regulatory requirements were "disproportionate and reduce sector competitiveness and innovation."
TSB had enhanced its digital products in its efforts to "transform into a digital-first bank," they said.
TSB's vision is to become "the easiest bank to deal with."
The Board approved a Climate Transition Plan.
"The insights we’ve gained from our climate-related disclosure work has given us a good understanding of what climate change means for our strategy and business model, to focus our work going forward."
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