ASB's settlement over alleged historic breaches of credit disclosure rules has affected its bottom line.

The bank reached a $135.6-million-dollar settlement in October last year.

In annual results released today, ASB's reporting a six-percent rise in operating income, but a 16 percent rise in operating expenses.

CEO Vittoria Short says inflation and new investments in technology also added to the profit drop. 

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ASB's settlement over alleged historic breaches of credit disclosure rules has affected its bottom line.
The bank reached a $135.6-million-dollar settlement in October last year.
In annual results released today, ASB's reporting a six-percent rise in operating income, but a 16 percent rise in operating expenses.
CEO Vittoria Short says inflation and new investments in technology also added to the profit drop.&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.

Best of Business

Vittoria Short: ASB CEO on the bank reporting profit drop to $1.3 billion for the year

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/45acc8c3-f679-4df0-a2f1-b4a4007a57b3/transcript

Meta, the tech giant behind Facebook and Instagram, has launched its own new AI-powered assistant.

Muse went to number one on the app stores and it's generated plenty of interest, but not everyone's a fan.

Sam Dickie from Fisher Funds explained further - and revealed why Amazon has cut the agent off its platform.

LISTEN ABOVE

Meta, the tech giant behind Facebook and Instagram, has launched its own new AI-powered assistant.
Muse went to number one on the app stores and it's generated plenty of interest, but not everyone's a fan.
Sam Dickie from Fisher Funds explained further - and revealed why Amazon has cut the agent off its platform.
LISTEN ABOVE

Sam Dickie: Fisher Funds expert on the launch of Meta's new AI assistant Muse

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/37c44344-2061-46a7-92df-b4cf007f4e79/transcript

Fonterra's boss believes the dairy co-op remains in a strong position, following the sell-off of its consumer brands.

It's confirmed a 23.6 percent rise in annual underlying operation profit.

CEO Richard Allen says these recent results are good news for New Zealand, as it means more money entering the economy and a good reward for Kiwi farmers.

"It's a great result - we've been very clear on, I guess, our strategy, focused B2B since our divestment and our B2B businesses have had a great year."

LISTEN ABOVE

Fonterra's boss believes the dairy co-op remains in a strong position, following the sell-off of its consumer brands.
It's confirmed a 23.6 percent rise in annual underlying operation profit.
CEO Richard Allen says these recent results are good news for New Zealand, as it means more money entering the economy and a good reward for Kiwi farmers.
"It's a great result - we've been very clear on, I guess, our strategy, focused B2B since our divestment and our B2B businesses have had a great year."
LISTEN ABOVE

Richard Allen: Fonterra CEO on the company delivering a full-year profit of $2.6 billion

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/810475fb-e001-4b19-9e61-b4cf0071bfde/transcript

NZ First want taxes slashed for small and medium businesses in order to increase productivity.

The party will campaign on lowering the rate from 28 percent to 20 - for businesses turning over less than $30 million dollars. 

Newstalk ZB senior political correspondent Barry Soper says there's a case for making this change, as Australia tried something similar for small to medium enterprises.

LISTEN ABOVE

NZ First want taxes slashed for small and medium businesses in order to increase productivity.
The party will campaign on lowering the rate from 28 percent to 20 - for businesses turning over less than $30 million dollars.&nbsp;
Newstalk ZB senior political correspondent Barry Soper says there's a case for making this change, as Australia tried something similar for small to medium enterprises.
LISTEN ABOVE

Barry Soper: Newstalk ZB senior political correspondent on NZ First's bid to cut taxes for small and medium businesses

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/5a28acf7-3906-4377-ae38-b4cf00573a46/transcript

Vittoria Short: ASB CEO on the bank reporting profit drop to $1.3 billion for the year

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