ANZ NZ annual profit falls 27%

ANZ NZ annual profit falls 27%
Jenny Ruth
ANZ Bank's annual profit fell 27 percent as charges for bad loans more than quadrupled and operating expenses rose 10 percent due to more expensive regulatory compliance and winding up the Bonus Bonds scheme.The bank, New Zealand's largest, reported a $1.34 billion net profit for the year ended Sept. 30, down from $1.83 billion the previous year.The latest result includes a $32 million loss on the sale of UDC Finance plus a further $23 million loss from unwinding economic hedges of UDC loans. The year-earlier result included a $66 milli...

More Finance

Life insurance market shrinks
Finance Risky Business

Life insurance market shrinks

Foreign firms dominate as affordability, tax and access barriers stymie growth.

Craigs beefs up in Hawkes Bay, eyes further expansion
Finance

Craigs beefs up in Hawkes Bay, eyes further expansion

Craigs looks to further expansion as it confirms the Somerset Smith Partners deal.

Court funding miss ‘undermines market confidence’
Finance

Court funding miss ‘undermines market confidence’

Plenary and Infrastructure NZ wrote to ministers over PPP ‘disappointment’.

Oliver Lewis 17 Sep 2025
Phasing out $6b capital layer unlikely to dent banks’ ratings
Finance

Phasing out $6b capital layer unlikely to dent banks’ ratings

Banks’ credit ratings likely unmoved if Additional Tier 1 capital phased out. 

Andy Macdonald 17 Sep 2025