ASB Bank lifts full-year cash earnings by 9% as parent prepares A$5 bln share offer

Tue, 11 Aug 2015

By Jonathan Underhill Aug. 12 (BusinessDesk) - ASB Bank, the New Zealand unit of Commonwealth Bank of Australia, reported a 9 percent increase in full-year earnings on rising interest income after lifting its home loan, business and rural lending books. Cash earnings rose to $846 million in the 12 months ended June 30, from $776 million a year earlier, ASB said in a statement. Interest income advanced 13 percent to $4.1 billion and its interest expenses climbed 16 percent to $2.4 billion, resulting in an 8.7 percent increase in net intere...

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