ASB grows lending and fattens margins

ASB grows lending and fattens margins
ASB chief executive Vittoria Shortt enjoyed a 47% pay increase. (Photo: ASB)
Jenny Ruth
ASB Bank grew both its business and mortgage lending faster than total bank lending in the year ended June and its net interest margin (NIM) fattened by 18 basis points in the second half of the year.The bank's statutory net profit rose 39% to $1.32 billion in the year with what it described as "a determined focus to support its customers and New Zealand through an unpredictable year".That was helped by a $311 million drop in the bank's charges against profit for bad debts.Chief executive Vittoria Shortt said the global pandem...

More Finance

JPMorgan is revamping Its bank for the superrich
Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million. 

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