ANZ New Zealand boosts annual cash profit 12 percent as staff cuts trim costs, bad debts fall

Mon, 28 Oct 2013

By Paul McBeth Oct 29 (BusinessDesk) - ANZ New Zealand, the country’s biggest lender, boosted its annual cash profit as staff cuts and fewer bad debts trimmed its costs, offsetting smaller margins lending in the face of increased competition. Cash profit rose to $1.44 billion in the 12 months ended Sept. 30 from $1.29 billion a year earlier, the bank said in a statement. Statutory profit rose 8 percent to $1.37 billion. Net interest income fell 3 percent to $2.64 billion, a smaller decline than the 13 percent drop in operating expenses to...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Energy
Climate change: some bans banned as energy policy evolves
Ian Llewellyn | Tue, 17 May 2022

The Emissions Reduction Plan shows the evolution in the government's thinking on energy policy.

Technology
$20m for SaaS and innovation in the Budget
Ben Moore | Tue, 17 May 2022

A first look at where the digital economy will benefit from government investment.

Charities FREE
Charities regulator more guide dog than watchdog
Oliver Lewis | Tue, 17 May 2022

Regulator opts more for education than enforcement. 

Sponsored
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.

Partner content
More fuel storage needed now

Boosting fuel reserves could prevent social & economic disruption.