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)

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...

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