Westpac takes $320m hit on loan impairments
Bank reports 38% profit fall, sees lower margins ahead.
A subdued second half and a big jump in impairment charges has dragged down profits at Westpac New Zealand.
Cash earnings for the bank were $649 million for the year to September, down 38% on a year earlier.
A major factor in the fall was $320m of impairment charges, although the bulk of
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