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

Community housing lender readies first social bonds
Finance

Community housing lender readies first social bonds

The Community Housing Funding Agency received an A+ credit rating this week.

Warner Bros production unit moves into red
Finance

Warner Bros production unit moves into red

The production company flags a tax issue related to the Sky TV–Discovery deal.

Victoria Young 03 Sep 2025
‘Strong applications’ for RBNZ governor role
Finance

‘Strong applications’ for RBNZ governor role

A leading professor believes the selection of the governor should be reopened.

Dileepa Fonseka 02 Sep 2025
Govt confirms $5m home threshold for golden visas
Finance

Govt confirms $5m home threshold for golden visas

Latest shake-up of foreign investment announced. 

Staff reporters 01 Sep 2025