ANZ New Zealand first-half cash profit falls 11% on software charge, while net interest income rises

Mon, 02 May 2016

By Jonathan Underhill May 3 (BusinessDesk) - ANZ New Zealand, the local unit of the Australian bank, reported an 11 percent decline in cash profit as growth in net interest income was offset by a charge against software. Cash profit, the preferred earnings measure for banks which strips out non-core items, fell to $751 million in the six months ended March 31, from $841 million a year earlier. Net interest income rose 5 percent to $1.49 billion but was offset by a 21 percent decline in other operating income to $402 million, which resulte...

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