ASB is keeping some covid caution

ASB chief executive Vittoria Shortt said it will access $4 billion of funding for lending. (Photo: supplied)

Thu, 12 Aug 2021

Most of ASB Bank's 39% jump in annual net profit reflected writebacks of covid-related provisioning but the bank is keeping provisioning at elevated levels in case there's further disruption ahead."We're still continuing to hold onto what I would call higher than normal provisions," chief executive Vittoria Shortt told BusinessDesk."We want to be cautious," Shortt said, pointing to the lockdowns in Australia, where the delta variant of covid is spreading in the community, as showing New Zealand could suffer an ou...

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