7 May 2015

Boost for BNZ's six-month profit

1:49 pm on 7 May 2015

The Bank of New Zealand says strong revenue growth and careful cost management have boosted its first-half net profit by 28 percent.

BNZ Wellington.

Photo: RNZ / Alexander Robertson

The bank's net profit rose to $502 million in the six months to March, compared with $393 million a year earlier.

Its cash earnings rose by just over 7 percent to $483 million.

This compares with Westpac New Zealand's 2 percent increase in first-half cash earnings to $441 million, and ANZ New Zealand's 5 percent fall to $841 million over the six-month period.

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