ASB Bank reports ‘solid’ 8% profit growth
Performance contrasts with Australian parent.
Tim Hunter
Wed, 07 Aug 2019
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NBR Focus: The Accountants 2024
Growth in deposits and lending helped ASB Bank post an 8% lift in net profit for the year to June, despite increased bad debt provisioning on rural and business loans.
Net profit for the year was $1.27 billion, generating a return on average equity of 15.2%, up from 15% a year earlier and 14.4%
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Tim Hunter
Wed, 07 Aug 2019
Contact the Writer: thunter@nbr.co.nz
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ASB Bank reports ‘solid’ 8% profit growth
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