A 2.5 billion dollar boost for our largest bank

ANZ New Zealand's announced a 21-percent increase in its annual profit.

It's largely down to a good year for the bank's hedging - investments designed to offset financial risks.

Chief Executive Antonia Watson says the bank also grew its balance sheet, and adjusted funds set aside for covering unpaid loans.

Westpac had a 13-percent profit increase - and there was no change for BNZ.