Kiwibank lifts first-half net profit 47.6% amid rekindled growth

Wed, 20 Feb 2019

By Jenny Ruth Feb. 20 (BusinessDesk) - Kiwibank Banking Group lifted first-half net profit 47.6 percent as it achieved more than twice the growth in deposits and lending in the latest six months as it managed in the whole of the previous full year. Net profit for the government-owned group rose to $62 million for the six months ended December from $42 million in the same six months a year earlier. Kiwibank says its deposit book grew 9.2 percent, or by $1.2 billion, after growth of $200 million in the previous full year, while its mortg...

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Economy

ANZ increases cash profit as net interest margins get squeezed

ANZ New Zealand has reported a 4% increase in its half-yearly profit despite pressure squeezing its margins.The bank's cash profit increased to $1.15 billion in the six months to March, up from $1.1b in the same period last year, but stable compared to the second half of its...

Riley Kennedy 10:50am

Law & Regulation