BNZ annual earnings rise 2.4% on lending growth, smaller bad debt charges

Wed, 29 Oct 2014

By Paul McBeth Oct. 30 (BusinessDesk) - Bank of New Zealand, the local unit of National Australia Bank, lifted annual earnings 2.4 percent as the lender lifted lending to businesses and households and reported smaller charges on bad debts. BNZ's cash earnings rose to $807 million in the 12 months ended Sept. 30 from $788 million a year earlier, Australian parent NAB said in a statement. Net interest income rose 3.1 percent to $1.51 billion, while impairment charges on bad and doubtful debts (B&DD) shrank to $87 million from $99 million in...

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