ANZ Banking Group has seen its first-half profit fall by nearly a quarter, while the New Zealand arm's profit also declined.
ANZ New Zealand's net profit fell 13 percent to $763 million in the six months ended in March from the previous year.
That included a one-time charge of $87 million associated with a change in accounting.
Total revenue fell by 2 percent, and expenses were up 10 percent.
There was also a big increase in bad debts, which rose 61 percent to $50 million.
ANZ New Zealand chief executive David Hisco said the bank had maintained its momentum in a highly competitive market with an increase in retail customers.
