ANZ NZ profit falls 15% after $200m covid-19 provisions

Thu, 30 Apr 2020

ANZ Bank New Zealand's first-half net profit fell 15 percent, reflecting a $200 million increase in charges against profit for bad debts on the expected impact of the coronavirus crisis. Its year-earlier results had also been boosted by profits from asset sales. ANZ's net profit for the six months ended March fell to $789 million from $896 million in the same period a year earlier, which had included $98 million in profits from selling OnePath Life and its stake in Paymark. The result comes as the bank's Australian parent chose a middl...

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