Westpac New Zealand’s profits are continuing to rise, as it makes more money from existing customers, rather than materially growing its business.

The Australian-owned bank’s New Zealand division reported a net profit of $525 million in the six months to March - a 10 percent rise from the same period last year.

Westpac CEO Catherine McGrath explains why New Zealand's margins have gone up - despite Australia taking a dip. 

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Westpac New Zealand’s profits are continuing to rise, as it makes more money from existing customers, rather than materially growing its business.
The Australian-owned bank’s New Zealand division reported a net profit of $525 million in the six months to March - a 10 percent rise from the same period last year.
Westpac CEO Catherine McGrath explains why New Zealand's margins have gone up - despite Australia taking a dip.&nbsp;
LISTEN ABOVE

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. 

Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers. Whether you’re a small business owner or interested in what’s going on in the Big End of Town, this podcast encompasses the sharpest voices and minds in the world of business.

Best of Business is the home of all things business at Newstalk ZB, from morning market updates right through to incisive interviews with New Zealand’s top business leaders and decision makers.

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Catherine McGrath: Westpac CEO on the bank's profit growing by 10 percent

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3a4926aa-c7de-4bcd-961c-b2d400782720/transcript