Coronavirus

BNZ's first-half result a bright spot as NAB raises A$3.5b

Jenny Ruth
Mon, 27 Apr 2020

BNZ's first-half result a bright spot as NAB raises A$3.5b
Jenny Ruth
Mon, 27 Apr 2020
Bank of New Zealand's cash earnings rose 5.6 percent in the six months ended March, mainly reflecting 8.5 percent growth in housing lending and lower charges against profit for bad loans.Earnings at its parent, National Australia Bank, more than halved, largely due to an A$807 million impairment charge as the lender booked the potential impact of the covid-19 outbreak on its loan book. The New Zealand bank's earnings were reported along with NAB today. However, BNZ said it won't release its results until tomorrow because o...

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