What’s at stake: BNZ has reported a higher profit of $1.5b, with customer deposits, home lending, and the net interest margin all rising.
Background: The Commerce Commission is conducting a market study into the sector, targeting home loans and deposit accounts. Bank chief executives say there’s a high level of competition.
Main players: BNZ, Dan Huggins, Mike Jones, Westpac, Catherine McGrath, Commerce Commission, John Small.
Bank of New Zealand’s annual profit has risen – driven by a solid first half – while experiencing weaker momentum over the rest of the year because of a slowing economy.
Its net profit rose nearly 7% to $1.5 billion in the year ended September 30, compared with $1.4b last year.
Customer
Want to read more? It's easy.
Choose your best value subscription option
Student
Exclusive offer for uni students studying at a New Zealand university (valued at $499).
What’s at stake: BNZ has reported a higher profit of $1.5b, with customer deposits, home lending, and the net interest margin all rising.
Background: The Commerce Commission is conducting a market study into the sector, targeting home loans and deposit accounts. Bank chief executives say there’s a high level of competition.
Main players: BNZ, Dan Huggins, Mike Jones, Westpac, Catherine McGrath, Commerce Commission, John Small.
