How profitable are New Zealand’s banks?

How profitable are New Zealand’s banks?
New Zealanders see bankers as self-satisfied fat cats. (Image: Corrections)
Pattrick Smellie
New Zealand is a good country in which to run a bank.The numbers tell us that, although not the same numbers as most of the popular outrage about bank profits are looking at.The fact that ANZ’s NZ arm racked up an annual net profit above $2 billion for the first time doesn’t say anything about its profitability other than that it is a very large business.“I think we all agree, having a really strong, stable banking system is really important to NZ,” the BNZ’s chief executive, Dan Huggins, said yesterday after the b...

More Finance

Carbon Catchup: Who's up, who's down?
Finance

Carbon Catchup: Who's up, who's down?

12 companies from the NZX50 increased their direct emissions compared to last year.

MHM Automation revenue jumped in year before acquisition
Finance

MHM Automation revenue jumped in year before acquisition

Expenses increased in kind leading to a slight dip in profit.

Ben Moore 04 Nov 2024
Westpac NZ posts profit of more than $1 billion
Finance

Westpac NZ posts profit of more than $1 billion

Fewer homeowners are struggling to repay their debts. 

Staff reporters 04 Nov 2024
NZX50 Carbon Catch-up 2024
Finance

NZX50 Carbon Catch-up 2024

We read the NZX50’s climate disclosures so you don’t have to.

Murray Jones 04 Nov 2024