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
3 mins to read

Westpac profit rises, with business, home lending gains

Group net profit up 20% to $562m, with decline in bank’s net interest margin and customer deposits.

WATCH: Westpac NZ chief executive Catherine McGrath speaks with Jonathan Mitchell.

Westpac has reported a higher net profit, as impairment provisions fell after Cyclone Gabrielle and revenue ticked up slightly.

Group net profit rose 20% to $562 million in the six months ended March 31, compared with $467m the previous year.

The bank’s revenue increased 1% to $1.38 billion, while

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
Westpac Catherine McGrath RBNZ OCR inflation interest rates Commerce Commission Peter King
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Investment

BNZ profit falls, revenue flat in half-year

Politics
1

Reserve Bank’s worries about insurance cover
General Business
3

RBNZ warns of ‘unintended consequences’, disagrees with ComCom
General Business
8

ComCom looks at larger schedule of work – and slashed resources
General Business
6

ComCom suggests Kiwibank IPO could make it genuine disruptor
General Business
4

‘Sporadic’ competition among Aussie-owned banks: ComCom
Investment

Westpac mum on dropping CoFI, working through ComCom study
Investment

Westpac Group profit flat at $1b as headwinds persist

Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Related News
Investment

BNZ profit falls, revenue flat in half-year

Politics
1

Reserve Bank’s worries about insurance cover
General Business
3

RBNZ warns of ‘unintended consequences’, disagrees with ComCom
General Business
8

ComCom looks at larger schedule of work – and slashed resources
General Business
6

ComCom suggests Kiwibank IPO could make it genuine disruptor
General Business
4

‘Sporadic’ competition among Aussie-owned banks: ComCom
Investment

Westpac mum on dropping CoFI, working through ComCom study
Investment

Westpac Group profit flat at $1b as headwinds persist

Westpac profit rises, with business, home lending gains
Investment,
103922
true
Subscribe Login