ASB lifts first-half earnings on bigger loan book, but skinnier margins

Tue, 14 Feb 2017

By Paul McBeth Feb. 15 (BusinessDesk) - ASB Bank boosted first-half earnings 6 percent as the local unit of the Commonwealth Bank of Australia grew its residential, commercial and agriculture lending, even as more expensive funding squeezed margins. Cash profit, the favoured earnings measure for banks that strips out non-core items, rose to $507 million in the six months ended Dec. 31 from $477 million a year earlier, ASB said in a statement. Net profit rose 11 percent to $525 million. Net interest earnings rose 5.2 percent to $923 m...

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