BNZ profit drops 25%
Provisions for bad debts are up but outlook for the economy is optimistic, bank says.
Bank of New Zealand has joined the other main trading banks in announcing a sharp drop in annual profits thanks to the effects of Covid-19.
BNZ Banking Group has reported a 25% fall in statutory net profit to $762 million for the year to September 30, down from $1.02 billion last year.
The
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