Westpac NZ talks up business lending, cautions on Iran
At a group level the bank took A$443m in impairment charges due to the more cautious economic outlook and an increase in newly impaired loans.
The bank's net interest margin rose three basis points to 2.29%.
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Westpac New Zealand is talking up growth in business banking even as it raises a red flag about performance in the second half of this year because of the Iran conflict.
The bank today reported that its first half net profit was up 4% to $545 million in the six months ended March, compared with
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