Vittoria Short: ASB CEO on ASB posting record $1.56 billion full-year net profit
ASB Bank have posted record annual profits, but the signs of an economic slowdown impacted their earnings.
The bank reported a net profit for the year ended June of $1.56 billion, up 6 percent on the year before.
ASB CEO Vittoria Short says the bank has deployed nearly $1 billion worth of capital into New Zealand marketplace, impacting their total capital.
"The more lending we do, the more deposits- there's definitely growth that drives the profitability."
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