BNZ's profits are continuing to rise, despite the economy slowing
BNZ's profits are continuing to rise, despite the economy slowing
9 November 2023
The bank's net profit after tax rose by 6.7 per cent in the year to September to 1.5 billion dollars.
BNZ's net interest margin -- a key measure of profitability -- jumped 25 basis points to 2.4 per cent.
Westpac New Zealand announced on Monday that its full year net profit had fallen 18 percent, due to increased compliance costs, and a slow down in activity brought about by high interest rates and inflation.
ANZ New Zealand's annual results are due out on Monday morning.
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