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

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

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

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d83f2242-75cd-4899-8fb9-b2d400781bde/transcript