ANZ profits up as bad debt provisions fall
Better-than-expected economic conditions and a runaway housing market are boosting banks’ results.
ANZ New Zealand has reported a 42% increase in cash profit for the half year to March, on the back of a strong home lending market and a significant reduction in bad debt provisions.
The bank made a cash net profit after tax of $962 million for the period, up from $677m at the same time last
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