ASB is reporting a one percent increase in net profit, for last year's second half.

Profit margins remained flat, but home lending grew five percent and business and rural lending increased two percent.

CEO Vittoria Short says this is a sign the economy is turning a corner for the better after a lengthy downturn.

"Inflation's back in target range, we know that the OCR or interest rates are moving downwards to more neutral levels and what we can see is that our customers, who have been doing it tough and are stressed - our actions are helping."

LISTEN ABOVE

ASB is reporting a one percent increase in net profit, for last year's second half.
Profit margins remained flat, but home lending grew five percent and business and rural lending increased two percent.
CEO Vittoria Short says this is a sign the economy is turning a corner for the better after a lengthy downturn.
"Inflation's back in target range, we know that the OCR or interest rates are moving downwards to more neutral levels and what we can see is that our customers, who have been doing it tough and are stressed - our actions are helping."
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's interim net profit rising to $763 million

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/942dcdb8-a2c2-444f-bfd9-b28200610963/transcript