Finance

BNZ points to a resilient economy as it lifts first-half profit 7.5%

Jenny Ruth
Thu, 05 May 2022

BNZ points to a resilient economy as it lifts first-half profit 7.5%
BNZ CEO Dan Huggins said 46% of mortgage customers are ahead of scheduled repayments. (Image: Supplied)
Jenny Ruth
Thu, 05 May 2022
Bank of New Zealand lifted its first-half net profit by 7.4%, boosted by favourable market value movements and a 7.5% increase in net interest income.The bank's net profit for the six months ended March 31 rose to $709 million from $660m in the same six months last year.There was a $21m charge against profit for bad debts compared with a $17m write-back in the previous first half. The result also included a $153m gain on financial instruments compared with a $135m gain in the year-earlier half.The bank's Australian parent, National Aust...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Property FREE
Money Answers: how much mortgage can I actually afford?
Frances Cook | Sat, 25 Jun 2022

This week, readers ask how they should decide as a family what they can afford in terms of buying a house – and just because you can, should you?

Health
The eyes have it
The Economist | Sat, 25 Jun 2022

Short-sightedness used to be rare. Now it's growing across the globe. Tim Cross, The Economist's technology editor, investigates its rapid rise.

On the Money
On the Money: Don Braid, Fletcher, Steve Newman and more
Victoria Young | Sat, 25 Jun 2022

OTM this week: A bit of matchy-matchy for Don Braid, the reopening of Parliament's lawns, Eroad, Fletcher and more. 

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

Sponsored
High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.