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28 Nov 2020 20:23
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  •   Home > News > Business

    A big hit for the country's biggest bank

    A big hit for the country's biggest bank


    ANZ New Zealand's cash profit has slumped 29 percent - to 1.371 billion dollars in the year to September.

    The decrease was primarily driven by increased credit impairment charges, because of Covid-19.

    The Herald's Tamsyn Parker says banks are holding on to some cash, in case of further losses early next year.

    She says the mortgage deferral scheme ends next March -- so what happens after that is up in the air.

    © 2020 Newstalk ZB, NZCity


     Other Business News
     28 Nov: Ferrari team principal Mattia Binotto confirms the team will support a freeze on Formula One engine regulations starting in 2022, which will allow Red Bull to continue using Honda engines
     28 Nov: Hospitality businesses and workers are turning to the industry's new support programme in droves
     28 Nov: This year's Black Friday sales are breaking the record books
     27 Nov: Lines and lines and parcels galore ... Kiwi shoppers are embracing today's Black Friday sales.
     27 Nov: Bunnings has closed one of its Auckland stores over earthquake concerns
     27 Nov: A call for shoppers to be more sustainability conscious this Black Friday
     27 Nov: Black Friday shoppers may have to buy differently this year
     Top Stories

    RUGBY RUGBY
    All Blacks wing Caleb Clarke has jotted down some notes to make the most of his opportunities against Argentina tonight in their Tri Nations finale More...


    BUSINESS BUSINESS
    Ferrari team principal Mattia Binotto confirms the team will support a freeze on Formula One engine regulations starting in 2022, which will allow Red Bull to continue using Honda engines More...



     Today's News

    Entertainment:
    Emilia Clarke only took 10 minutes to come up with a 'Game of Thrones' speech in a fictional language 20:14

    Entertainment:
    Nikki Bella and Artem Chigvintsev are having couples therapy to "be amazing parents" 19:44

    Entertainment:
    Jeannie Mai says Jeezy has been a "rock" since she underwent emergency surgery 19:14

    Rugby:
    All Blacks wing Caleb Clarke has jotted down some notes to make the most of his opportunities against Argentina tonight in their Tri Nations finale 18:57

    Entertainment:
    Ryan Reynolds and Blake Lively have donated $500,000 to help homeless, at-risk and trafficked youngsters 18:44

    Politics:
    A proposal for another cannabis referendum - this time to decriminalise, rather than legalise it 18:37

    Law and Order:
    Police are asking people for their help to locate missing woman Elizabeth Zhong 18:37

    Entertainment:
    Drake has hit out at the Grammy Awards for overlooking The Weeknd in their latest nominations 18:14

    Accident and Emergency:
    Two people were trapped in a car underneath live power lines after crashing into a power pole near Morrinsville 18:07

    Entertainment:
    Michael Jordan is donating $2 million of his earnings from 'The Last Dance' to Feeding America 17:44


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