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

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
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...

More Finance

Fast-food chain float could give Fonterra a steer
Finance

Brian Robins: Fast-food chain float could give Fonterra a steer

After a dearth of IPOs, all eyes are on Guzman y Gomez. 

Brian Robins 20 Jun 2024
Whineray appointed new Jarden chair
Finance

Whineray appointed new Jarden chair

Fraser Whineray quit as Fonterra's chief operating officer in July 2023.

Murray Jones 19 Jun 2024
Bluebird improves profits after investment in Wiri site
Finance

Bluebird improves profits after investment in Wiri site

Bluebird Foods NZ has posted a profit of $13.2m for the year ended December 2023.

Staff reporters 18 Jun 2024