(New Zealand) Auckland Savings Bank is set to capitalise on its strong business banking performance by investing heavily in the division.ASB’s business banking unit increased by 20 percent in the year to June with the North Island alone growing 37 percent. The bank’s commercial and business lending grew by 12 percent to NZ$3.7 billion.
To maximise this growth ASB is due to open a new corporate banking division which will target the medium to large segment of New Zealand’s business banking market.
The bank will also ramp up staff numbers and enhance its online offering.