Higher expenses deliver flat profits at ASB
Second-half performance deteriorated compared with the previous year, with income down and impairments higher.
Staff costs were a main driver of the higher expenses.
Profits have dipped at ASB Bank, with the full-year net profit for 2025 coming in 1% lower at $1.35b.
While the bank’s operating performance for the period to June 30 improved by 3%, the result was clipped by a 10% increase in operating expenses.
ASB said expenses were “primarily driven by higher
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