Main takeaway: Westpac reports robust financial results, with a strong September quarter for business lending and guides the start of New Zealand’s economic recovery.
Higher revenue and lending growth have given Westpac a boost as it guides towards New Zealand’s long-awaited economic recovery.
Its financial results for the year ended September 30, released today, showed the bank’s net profit gained 13% to almost $1.2 billion, compared with $1b last year,
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Key points
Revenue: up 8% to 3.08b
Group profit: down 2% to $1.2b
Main takeaway: Westpac reports robust financial results, with a strong September quarter for business lending and guides the start of New Zealand’s economic recovery.
