ANZ New Zealand's top boss is taking home well over two-million dollars this year

The bank's announced an annual 21-percent profit increase, largely down to hedging - investments that offset financial risks.

Head Antonia Watson says she's getting a tidy bonus.

She says it's complicated, but overall she'll be paid just under 2.8 million dollars.

Westpac NZ boss Catherine McGrath made more than four million dollars this year.

Westpac had a 13-percent rise in profits.