Westpac, Kiwibank lead earnings growth among banks in June quarter

Wed, 24 Sep 2014

By Paul McBeth Sept. 25 (BusinessDesk) - Westpac Banking Corp and Kiwibank led earnings growth among New Zealand's banks in the second quarter, as increased lending and wider margins propped up profits. Net profit across New Zealand's banks edged down to $1.125 billion in the three months ended June 30 from $1.15 billion in the March quarter, though stripping out a one-off insurance settlement by Australia & New Zealand Banking Group, underlying earnings rose 6.2 percent, according to KPMG's quarterly financial institutions performance su...

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