BNZ 9-month profit edges up 1.8% on smaller bad debt charges

Tue, 29 Aug 2017

By Paul McBeth Aug. 29 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, posted a 1.8 percent increase in net profit for the first nine months of the year as smaller charges on bad debt made up for largely flat income. Net profit rose to $692 million in the nine months ended June 30 from $680 million, the lender's quarterly disclosure statement shows. Impairment losses shrank to $42 million from $106 million a year earlier, making up for a dip in operating earnings as expenses rose 5.6 percent to $698 milli...

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