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.

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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