News
Issue No. 17 - June/July 2004
News Snapshots
BankSA reports 22pc profit increase
BankSA today announced an interim profit of $83 million (before tax) for the half year ending March 31, 2004 – an increase of 22.1 per cent, or $15 million, over the previous corresponding period. BankSA’s net interest income increased by 12 per cent to $122 million, while non-interest income increased by 18 per cent to $39 million. $3.6 million of this increase was due to profit on sale of land and buildings. The St.George Group recorded an interim profit after tax of $354 million, up 18.8 per cent or $56 million. A fully franked interim dividend of 60 cents has been declared, a 33.3 per cent increase on the previous corresponding period.
BankSA Managing Director, Mr Rob Chapman, said he was extremely proud of the performance of South Australia’s leading home lender. "One of the most pleasing aspects of the Bank’s performance is that we are talking about sustainable and balanced growth,’’ Mr Chapman said.
BankSA employs 1,183 full-time equivalent staff, operating 109 branches in South Australia and four in the Northern Territory, 175 ATMs in South Australia and six in the Northern Territory, and 118 electronic agencies, mainly throughout regional South Australia, and six in Victoria.
BankSA has the largest branch network of any financial institution in South Australia.
Freight Council claims $30 million wasted on Port bridges
The South Australian Government is being urged not to construct two "opening" bridges over the Port River – and save taxpayers about $30 million. The South Australian Freight Council, the State’s peak freight transport advisory group, instead advocated "fixed" road and rail bridges for the $200 million Port Expressway project. SAFC Executive Officer, Neil Murphy, said the savings could be re-directed as the "Government’s contribution" to the $55 million job of deepening the main channel at Outer Harbor. "Premier Rann announced last week tha...
