ANZ New Zealand 9-mth earnings jump 19% on smaller bad debt charges, cost cutting

Paul McBeth
Mon, 14 Aug 2017

By Paul McBeth Aug. 15 (BusinessDesk) - ANZ New Zealand, the local unit of Australia & New Zealand Banking Group, boosted nine-month earnings 19 percent as the country's biggest lender benefited from smaller impairment charges on bad debt and cut costs.  Cash earnings, the preferred measure of the Australian-owned banks, rose to $1.38 billion in the nine months ended June 30 from $1.16 billion a year earlier, the Auckland-based lender said in a statement. That was largely due to impairment charges more than halving to $51 million and an 8...

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