Main takeaway: BNZ's reported a "resilient" half-year result, with net profit down 5%, while total lending and deposits expanded, as the bank attracted new customers.
Bank of New Zealand has reported a lower half-year profit amid tighter economic conditions and a rise in operating expenses.
The bank’s net profit fell $43 million to $762m in the six months ended March 31, compared with the previous year.
Revenue was largely flat at $1.77 billion, while the net
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Key points
Revenue: down 0.3% to $1.77 billion.
Net profit: down 5% to $762 million.
Main takeaway: BNZ's reported a "resilient" half-year result, with net profit down 5%, while total lending and deposits expanded, as the bank attracted new customers.
