ASB grows lending and fattens margins

ASB grows lending and fattens margins
ASB chief executive Vittoria Shortt enjoyed a 47% pay increase. (Photo: ASB)
Jenny Ruth
ASB Bank grew both its business and mortgage lending faster than total bank lending in the year ended June and its net interest margin (NIM) fattened by 18 basis points in the second half of the year.The bank's statutory net profit rose 39% to $1.32 billion in the year with what it described as "a determined focus to support its customers and New Zealand through an unpredictable year".That was helped by a $311 million drop in the bank's charges against profit for bad debts.Chief executive Vittoria Shortt said the global pandem...

More Finance

‘Teflon Man’ Neil Quigley’s next big job
Finance Analysis

Pattrick Smellie: ‘Teflon Man’ Neil Quigley’s next big job

Is the RBNZ lining up a Canadian replacement for Adrian Orr?

Pattrick Smellie 23 Jul 2025
Time ripe to stop forex fees confusion
Finance

Time ripe to stop forex fees confusion

Misleading 'fees free' foreign exchange deals are costing Kiwis.

Pattrick Smellie 22 Jul 2025
BNZ whistleblower wins $500k, fights on
Finance

BNZ whistleblower wins $500k, fights on

 Melissa Bowen had sought more than $3 million after she lost her job at the bank.

Victoria Young 18 Jul 2025
UPDATED: ASB, ANZ offered settlement in class action stoush
Finance

UPDATED: ASB, ANZ offered settlement in class action stoush

ANZ immediately rejected the offer as a "stunt".

Pattrick Smellie 16 Jul 2025