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Newcastle Herald
Newcastle Herald
Business
Penelope Green

'We won't do an NIB': Greater and Perm bosses

Perm Greater Bank
Greater Bank chair Wayne Russell has reassured senior customers regarding the proposed merger with the Perm. Picture supplied

THE boards of Newcastle Permanent and Greater Bank may have unanimously voted to merge but if the proposal is approved, the pair will ultimately "not do an NIB", the Perm's chairman Jeff Eather says.

Addressing mostly senior citizens gathered at the Newcastle Institute's September forum on Wednesday night, both Mr Eather and his Greater Bank counterpart, Wayne Russell, emphasised a commitment to both organisations remaining customer-owned, mutual banks.

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