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Investment
4 mins to read

BNZ profit flat, margins down, business lending up

Net profit of $1.5b in the year ended September, with margins under pressure and higher costs.

BNZ’s net interest margin fell from 2.40% to 2.37%.

BNZ has reported a flat annual profit of $1.5 billion, with lending and deposit growth, partially offset by lower margins and higher costs.

Overall, the Australian-owned bank’s profit was down $3 million on the previous year ended September, while operating income was up 3% to $3.61b.

Its net

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