Uncertainty sees ANZ retain 75% of covid provisions

Chief executive Antonia Watson is still expecting a covid impact. (Photo: supplied)

Fri, 29 Oct 2021

ANZ Bank New Zealand has written back only about 25% of its covid provisions which is an indication of how uncertain the bank still sees the likely outcome of the pandemic, chief executive Antonia Watson said.The bank wrote back $115 million of last year's provisions, resulting in it reporting a 44% increase to $1.92 billion in net profit for the year ended September this year. "I wish we could use our crystal ball. We're definitely recognising there's some uncertainty by retaining as much of those provisions," Watson...

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Politics

Govt reshuffle: Lee demoted, Simmonds loses portfolio

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