In the latest full year result, the Bank of New Zealand (BNZ) has unveiled a 74% rise in its statutory net profit, to $1.32 billion

BNZ's profit up 74%. In the latest full year result, the Bank of New Zealand (BNZ) has unveiled a 74% rise in its statutory net profit, to $1.32 billion.

BNZ profits up 74%-good returns davidahern 29 seconds ago In the most recent full-year results, the Bank of New Zealand (BNZ) revealed that statutory net income increased 74% to $ 1.32 billion. Info In the latest full year result, the Bank of New Zealand (BNZ) has unveiled a 74% rise in its statutory net profit, to $1.32 billion and about BNZ's profit up 74%. In the latest full year result, the Bank of New Zealand (BNZ) has unveiled a 74% rise in its statutory net profit, to $1.32 billion..

BNZ has released its full year result. Photo / File. Strong revenue growth and a bounce back in the economy has boosted the Bank of New Zealand's full-year profit by 74 per cent to $1.32 billion

In the latest full year result, the Bank of New Zealand (BNZ) has unveiled a 74% rise in its statutory net profit, to $1.32 billion KiwiSaver funds under management rose 24% to $4.1 billion. ↗ A lot of this stemmed from the inclusion into the final result of expenditure set aside last year because of the Covid crisis. ↗ BNZ has released its full year result. Photo / File. Strong revenue growth and a bounce back in the economy has boosted the Bank of New Zealand's full-year profit by 74 per cent to $1.32 billion.

BNZ lifts annual net profit 74% to $1.32b. BNZ chief executive Dan Huggins said his bank will help businesses. (Photo: supplied) Bank of New Zealand lifted annual net profit 74% and attributed the improvement to the NZ economy bouncing back, the write-back of covid provisions and one-off profits.The bank, which is owned by National Australia.

BNZ lifts annual net profit 74% to $1.32b. BNZ chief executive Dan Huggins said his bank will help businesses. (Photo: supplied) Bank of New Zealand lifted annual net profit 74% and attributed the improvement to the NZ economy bouncing back, the write-back of covid provisions and one-off profits.The bank, which is owned by National Australia. Bank of New Zealand's (BNZ) net profit for the year ended September was up 74 percent on a year ago to $1.3 billion - a record result. In the latest full year result, the Bank of New Zealand (BNZ) has unveiled a 74% rise in its statutory net profit, to $1.32 billion.

Much of this was due to being included in the end result of spending set aside last year due to the Covid crisis.

However, ignoring this spending, statutory net income increased 12% year-on-year to $ 1 billion.

Bank of New Zealand’s recently appointed CEO, Dan Huggins, said the bank aims to support the business community through Covid.

“We are a major lender under a government-backed business finance guarantee scheme, and our own Good to Grow scheme supported nearly $ 300 in business.
One million, “he said.

 

“By reducing merchant and contactless payment charges, we were able to reduce corporate costs, and our direct cash service streamlined change orders.”

Huggins added that BNZ helped 4,678 New Zealanders enter their first home last year and 11,764 New Zealanders renovating and investing in existing real estate.
There was also 1,600 new home constructions.

In the full-year report, lending to customers increased by 7.5% and deposits and other borrowing increased by 8.8%.

 

Kiwi Saver’s assets under management increased 24% to $ 4.1 billion.