ANZ NZ annual profit falls 27%

ANZ NZ annual profit falls 27%
Jenny Ruth
ANZ Bank's annual profit fell 27 percent as charges for bad loans more than quadrupled and operating expenses rose 10 percent due to more expensive regulatory compliance and winding up the Bonus Bonds scheme.The bank, New Zealand's largest, reported a $1.34 billion net profit for the year ended Sept. 30, down from $1.83 billion the previous year.The latest result includes a $32 million loss on the sale of UDC Finance plus a further $23 million loss from unwinding economic hedges of UDC loans. The year-earlier result included a $66 milli...

More Finance

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025
$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025
Michael Lorimer exits Grant Samuel amid more sector change
Finance

Michael Lorimer exits Grant Samuel amid more sector change

Lorimer has sold his 80% stake in the corporate advisory firm.

Duncan Bridgeman 26 Jun 2025