ANZ Bank says NZ unit 'performing strongly' in 1Q as cash profit falls 0.2%

Mon, 16 Feb 2015

By Paul McBeth Feb. 17 (BusinessDesk) - Australia & New Zealand Banking Group says its New Zealand division performed strongly in the final three months of 2014 as cash profit slipped 0.2 percent, maintaining market share as lenders fought for mortgage customers and reaping gains from the merger of its National Bank and ANZ brands. Cash profit, which strips out changes in the value of financial instruments, slipped to $415 million in the three months ended Dec. 31 from $416 million a year earlier, as net interest income edged up 4 percent...

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