BNZ annual earnings gain as fatter loan book boosts income, bad debt charges shrink

Wed, 01 Nov 2017

By Paul McBeth Nov. 2 (BusinessDesk) - Bank of New Zealand's annual earnings rose 7.9 percent as the lender's expanding loan book fattened income at skinnier margins while the dairy sector's recovery this year cut bad debt charges. Cash earnings, the favoured measure of the Australian owned banks, rose to $983 million in the 12 months ended Sept. 30 from $911 million a year earlier, the local unit of National Australia Bank said in a statement. Net interest income increased 2.1 percent to $1.79 billion while impairment losses dropped 31...

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