BNZ 1H earnings flat as revenue gains offset by higher charges for bad debts

Wed, 08 May 2013

By Paul McBeth May 9 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, lifted first-half cash earnings 0.5 percent as revenue gains from housing and business lending were offset by a bigger charge on bad debts. Cash earnings from the New Zealand banking operations, which strip out wholesale operations, rose to $387 million in the six months ended March 31 from $385 million in the same period a year earlier, the Wellington-based lender said in a statement. BNZ banking group interest income gained 4.1 percent to...

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