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Claire Matthews: Massey Business School Associate Professor on BNZ's profits continuing to rise
BNZ’s profits are continuing to rise despite the economy slowing.
The bank’s net profit after tax rose by 6.7% in the year to September to a total of $1.5 billion.
BNZ’s net interest margin —a key measure of profitability— jumped 25 basis points to 2.4%.
Claire Matthews, Massey Business School Associate Professor, told Roman Travers that while they made a substantial profit, things did slow in the second half of the year.
She said that they hadn’t done as well in the last six months as they did in the first, reflecting the slowing economy.
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