BNZ lifts first-half net profit 80%

Bank of New Zealand chief executive Angie Mentis didn't mention that business lending fell.

Thu, 06 May 2021

Bank of New Zealand lifted first-half net profit 80% as it reversed some covid-related charges, fattened margins and said NZ's economy had recovered faster and more strongly than expected from the covid-19 pandemic.BNZ, which is owned by National Australia Bank (NAB), reported a $660 million net profit for the six months ended March, up from the $367m net result for the same six months a year earlier.The bank wrote back $17m of charges for bad debts after charging $151m in the year-earlier six months.NAB reported a net profit of A$3.2 billi...

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