close
MENU
How to guide
How to guide
Home
The NBR List
NBR View
NBR Marketplace

Categories

General Business Investment Economics Te Ao Māori Politics Infrastructure Australia Tech & Innovation Finance Law Professional Services Primary Industries Retail Property Deals Aviation News Comings & Goings

Analysis

All Economy Matters Edwards on Politics Hunter’s Corner Last Word Margin Call On the Money Shoeshine Underarm NBR Focus

Featured

Podcasts Audio Articles Entrepreneurs Your Business Beehive Banter Morning Brew Toil & Trouble NZ Aviation News Back Issues Market Outlook Dollars & Sense Private Bin Opinion (Archive) NBR Radar (Archive) NBR Rich List (Archive)
Investment
4 mins to read

ASB profit falls as home, business, and rural lending dips

Statutory net profit fell 11% to $749 million in the six months ended December 31.

WATCH: ASB chief executive Vittoria Shortt speaks with Jonathan Mitchell.

Key points
  • Statutory net profit: Down 11% to $749m.
  • Net interest income: Down 7% to $1.4b.
  • Main takeaway: Tighter margins and lower lending to households, businesses, and rural customers in the six months ended December 31.

ASB’s half year profit has fallen, with tighter margins and weakness in lending, amid a tough economic environment.

The Australian-owned bank reported its statutory net profit fell 11% to $749 million in the six months ended December 31. Meanwhile, its underlying ‘cash’ profit fell 12% to

Want to read more? It's easy.

Choose your best value subscription option

Student

Exclusive offer for uni students studying at a New Zealand university (valued at $499).
View terms and conditions.
Individual
Group membership
NBR Marketplace

Yearly Premium Online Subscription

NZ$499.00 / yearly

Monthly Premium Online Subscription

NZ$44.95 / monthly

Smartphone Only Subscription

NZ$24.95 / monthly

Premium Group Membership 10 Users

NZ$350+GST / monthly

$35 per user - Pay by monthly credit card debit

Premium Group Membership 20 Users

NZ$600+GST / monthly

$30 per user - Pay by monthly credit card debit

Premium Group Membership 50 Users

NZ$1250+GST / monthly

$25 per user - Pay by monthly credit card debit

Premium Group Membership 100 Users

NZ$1875+GST / monthly

$18.75 per user - Pay by monthly credit card debit

Yearly Premium Online Subscription + NBR Marketplace

NZ$499.00 / yearly

Already have an account? Login
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Tags
ASB Vittoria Shortt CBA Commerce Commission RBA Michele Bullock
Company profile
Powered by: asx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Politics
3

RBNZ ‘laser focused’ on cost efficiency amid public sector cuts
Economy Matters
1

High interest rates set to be around for longer
Economics
2

ANZ gets more hawkish, pencils in OCR peak of 6%
Economics
1

Slow grind back to target for inflation, OCR on hold next month
General Business
2

ComCom bank study to focus on home loans, deposits
General Business
5

ASB profits up 10% as Kiwis face tougher times
Key points
  • Statutory net profit: Down 11% to $749m.
  • Net interest income: Down 7% to $1.4b.
  • Main takeaway: Tighter margins and lower lending to households, businesses, and rural customers in the six months ended December 31.
Company profile
Powered by: asx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Politics
3

RBNZ ‘laser focused’ on cost efficiency amid public sector cuts
Economy Matters
1

High interest rates set to be around for longer
Economics
2

ANZ gets more hawkish, pencils in OCR peak of 6%
Economics
1

Slow grind back to target for inflation, OCR on hold next month
General Business
2

ComCom bank study to focus on home loans, deposits
General Business
5

ASB profits up 10% as Kiwis face tougher times
ASB profit falls as home, business, and rural lending dips
Investment,
102693
true
Subscribe Login