What’s at stake: Westpac has reported its full-year results showing resilience in the face of higher inflation and interest rates.
Background: NZ group net profit rose 1% to $1.06 billion, while customer lending to households and businesses increased.
Main players: Westpac, Catherine McGrath, Australia, New Zealand, Commerce Commission.
Westpac Group’s full-year profit has remained flat at just over $1 billion, as the bank helps customers and businesses navigate higher interest rates and natural disasters.
Its result in the year ended September 30 showed New Zealand group net profit after tax up 1% to $1.06b, compared with $1.05b
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).
