News and Stories

The SBS Group has reached two major milestones this week with our achievement of Toitū CarbonReduce™ and making our first public Climate-Related Disclosure.

While reducing our emissions has been a focus in our operations, this is the first time the SBS Group has achieved this certification along with assurance on our emissions disclosures. Our Climate-Related Disclosure details how SBS addresses climate-related risks and opportunities. This milestone is not the end, rather the end of the beginning of our continued journey in sustainability and climate-management.

We have also published our 2024 Annual Report on our website this week, so check out the Disclosure Statements page on the SBS website to find out more about how SBS provides benefits back to its Members and our purpose of Helping Kiwis find a place to call home.

SBS Bank is delighted to join technology sector development agency Technology Queenstown (TQ) as a founding member. 

Launched earlier this year, TQ is a not-for-profit organisation with a strategic plan to leverage the potential of Queenstown’s growing technology sector and help it become a globally-competitive hub for tech innovation.

It has set a goal to generate $1 billion in annual tech sector GDP by 2043, while preserving the district’s unique lifestyle and environment.

As a key sponsor and founding member, SBS will provide critical funding of $50,000 per year for the next five years as it advocates for and represents the tech sector.

“SBS is proud to get on board as momentum builds to develop Queenstown’s growing technology ecosystem,” says SBS Bank Group Chief Executive Mark McLean.

"The pandemic shone a light on the region’s heavy reliance on the tourism and hospitality sectors and the pressing need to build other industries alongside these. The team at TQ has stepped up with a clear vision to diversify the region’s economy and SBS is pleased to support it to take the steps to maximise the opportunity,” Mr McLean says.

“Building a vibrant tech industry in this part of the country will create opportunity for people across the region and will provide SBS access to world-leading expertise in cybersecurity and digital experiences in our own backyard.

“With 155 years’ of backing Kiwis as a New Zealand-owned, mutual bank, SBS is delighted to champion this initiative to drive economic growth and resilience.”

This week we were proud to announce another year of solid growth as we helped a record number of Kiwis into homes. The SBS Group, which includes our subsidiaries SBS Insurance, SBS Wealth and Finance Now, announced a surplus before tax of $56.6 million for the year ending 31 March 2024 - an increase of $5.1 million or 10 per cent on the previous year.

SBS Bank Group Chief Executive Mark McLean says the increase was due to strong lending growth and a one-off gain from the sale of an associate, partly offset by the impacts of margin compression, ongoing investment in the business and an increase in credit impairment expense.

During the year, 6,650 new members joined SBS Bank as we welcomed strong numbers of both first home buyers and investment members.

SBS Group CEO Mark McLean said, “We are delighted to be the trusted financial partner in the lives of 86,000 members across New Zealand as we grow and succeed as a wholly New Zealand-owned mutual organisation, investing back into New Zealand,”

We’re excited to announce that as a founding partner of the newly created Southland Foundation. SBS Bank will provide a $5 million interest-free loan to fuel the establishment of the Foundation and extend its reach deep into the heart of the Southland community.

Southland Foundation is a unique type of charitable trust that provides a vehicle for people to make donations to benefit the charitable organisations and causes that matter most to them.

Left to right: SBS Group CEO Mark McLean at the launch event with Southland Foundation Chair Kathryn Ball and Sir Stephen Tindall.

Christchurch Manager Brendon Forrest recently attended the opening Masters Winter Bowls Tournament at Club Redcliffs, which SBS Bank has a proud long-term partnership with. Congratulations to all the winners!

Thanks so much to the Highlanders for such an awesome road trip visiting our branches in Timaru, Gore and Invercargill yesterday!

Our SBS Bank Invercargill branch team is proud to be supporting Relay for Life and dressing in purple today for this fantastic cause. Go team!

We’re so proud to be supporting the EPro8 Challenge being hosted at the James Hargest junior campus in Invercargill this week. Well done to all the teams who have taken part so far and good luck to the teams who have made it to the grand final!

The team from the SBS Hamilton branch was delighted to be able to provide some prizes as part of the recent Waikato Sunrise Rotary Fun Run.  Over $9,000 was raised to purchase six GoBabyGo cars for children in the Waikato region! Great job everyone!

SBS announce that Ms Linda Robertson will be joining the SBS Bank Board effective 1st April 2023.

As the Highlanders return to Invercargill this week, from a four-year hiatus, official sponsor SBS Bank has lined up plenty of opportunities for fans to meet the players ahead of Sunday’s match against the Western Force.

The number of scams targeting everyday Kiwis are on the rise, so this Cyber Smart Week we're encouraging our Members to get to know the warning signs to look out for and how you can help protect yourself.

SBS Bank has delivered another strong result for the 2022-2023 financial year.

The Southland Sharks bank on a great family of sponsors every National Basketball League season and this year SBS Bank is thrilled to be extending our support by becoming the official front of singlet sponsor!

SBS Bank is pleased to announce an extension of their partnership with Rugby Southland, coming on board as the new Naming Partner of The ‘SBS Bank Southland Stags’ for the 2022 Bunnings Warehouse NPC Season.

Southlander Sarah Brown has been appointed to the SBS Bank Board of Directors, replacing long serving director Anne McLeod.

A new SBS Bank Covid19/Vaccination Policy will come into effect on Monday 14 February for Members across all of our retail branches and physical locations.

The SBS Bank 12 Days of Christmas had another amazing response this year, with lots of passionate voters helping us to create festive hampers to donate to worthy local causes!

With Christmas and New Year just days away we wanted to give you a quick update on our operating hours over the holiday period.

As New Zealand prepares to move to the new Covid-19 traffic light system at 11:59pm tonight we wanted to let you

As a proud sponsor of the Highlanders we have been given a special ticketing offer exclusively for SBS Bank Members.

The SBS Bank Kick For Cash was back again in 2021, with one lucky Member winning the chance to kick for $1,000

Ryan Feely and Jordan Saville of SBS and subsidiary FANZ took up the Drop for Youth challenge to raise funds for the the Graeme Dingle Foundation Southland

Following the recent resignation of Shaun Drylie, Mark McLean has been appointed to the role of SBS Group CEO.

After tireless work from amazing volunteers the Lot47 House is up for sale, with all profits going towards the new state of the art St John Ambulance Station that will service the Central Otago Region.

The SBS Bank Tour of Southland officially kicks of this weekend, with the first stage taking place on Sunday at Queens Park in Invercargill.

SBS is proud to be expanding our relationship with the Highlanders by becoming the new front of jersey sponsor in 2022!

This Thursday our SBS Branch and Head Office staff went pink for a day to raise funds for Breast Cancer Foundation NZ.