ANZ half-year profit surges on non-cash gains

ANZ NZ's Antonia Watson says recovery may be slower than hoped, but is happening. (Image: NZME)

Thu, 08 May 2025

ANZ Bank’s New Zealand unit produced a statutory net profit 23% higher in the six months to March 31 than in the same period a year earlier, almost entirely reflecting non-cash gains in the value of financial instruments, where the previous half showed losses.For the half-year, the NZ unit of the Australian-owned bank reported statutory profit of $1.27 billion, compared with $1.04b in the same period a year earlier. Notes on the financial statements show fair value gains from hedging activities of $148 million in the latest half, com...

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