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