UPDATED ANZ Bank lifts FY underlying profit in NZ by 11 percent to $957M as margins fatten

Wed, 24 Oct 2012

(Updates to give New Zealand geographic results in third paragraph) Oct. 25 (BusinessDesk) – Australia & New Zealand Banking Group lifted full-year profit in New Zealand by 11 percent as it benefited from fatter margins and smaller provisions for bad debts. New Zealand underlying profit, which excludes some non-core items, rose to $957 million in the 12 months ended Sept. 30 from $863 million, the Melbourne-based lender said in a statement. The underlying net interest margin widened to 2.62 percent from 2.52 percent a year earlier. The numbe...

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