ASB Bank have posted record annual profits, but the signs of an economic slowdown impacted their earnings.

The bank reported a net profit for the year ended June of $1.56 billion, up 6 percent on the year before.

ASB CEO Vittoria Shortt says the bank has deployed nearly $1 billion worth of capital into New Zealand marketplace, impacting their total capital.

"The more lending we do, the more deposits- there's definitely growth that drives the profitability."

LISTEN ABOVE

ASB Bank have posted record annual profits, but the signs of an economic slowdown impacted their earnings.
The bank reported a net profit for the year ended June of $1.56 billion, up 6 percent on the year before.
ASB CEO Vittoria Shortt says the bank has deployed nearly $1 billion worth of capital into New Zealand marketplace, impacting their total capital.
"The more lending we do, the more deposits- there's definitely growth that drives the profitability."
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

Vittoria Shortt: ASB CEO on ASB posting record $1.56 billion full-year net profit

Over in the UK, British finance minister John Healey is due to announce his first Budget on Wednesday - but people aren't feeling optimistic.

Households and businesses are struggling to cover all their costs, and another winter full of rising energy bills is looming.

UK correspondent Enda Brady claims minimum wage is set to go up for younger workers, but this won't be good news for businesses.

LISTEN ABOVE

Over in the UK, British finance minister John Healey is due to announce his first Budget on Wednesday - but people aren't feeling optimistic.
Households and businesses are struggling to cover all their costs, and another winter full of rising energy bills is looming.
UK correspondent Enda Brady claims minimum wage is set to go up for younger workers, but this won't be good news for businesses.
LISTEN ABOVE

Enda Brady: UK correspondent ahead of Chancellor John Healey presenting UK 2026 Budget

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/d7489058-783f-4e3e-8e7b-b4f00079042b/transcript

The Awakino Gorge on State Highway 3 is set to close again tonight for nine consecutive nights, but there's hope for a way forward.

The route has been closed several times over the past year due to storms and adverse weather conditions, causing delays and detours for drivers. 

National Road Carriers Association CEO Justin Tighe-Umbers is feeling hopeful - as this closure was planned so contractors could install a retaining wall at the site of a major slip.

"Short-term pain for hopefully some longer-term gain and fewer closures."

LISTEN ABOVE

The Awakino Gorge on State Highway 3 is set to close again tonight for nine consecutive nights, but there's hope for a way forward.
The route has been closed several times over the past year due to storms and adverse weather conditions, causing delays and detours for drivers.&nbsp;
National Road Carriers Association CEO Justin Tighe-Umbers is feeling hopeful - as this closure was planned so contractors could install a retaining wall at the site of a major slip.
"Short-term pain for hopefully some longer-term gain and fewer closures."
LISTEN ABOVE

Justin Tighe-Umbers: National Road Carriers Association CEO on the latest closure of the Awakino Gorge

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/949d25c1-db17-4c26-8a03-b4f000762177/transcript

The gap between the two major parties has narrowed again, leaving people speculating about how the election could go.

According to the latest 1News-Verian poll, National has dropped to 29 points and Labour is holding steady on 27.

Meanwhile, the Greens have dropped to 15, ACT is on 12, NZ First has gone up to 10 and Opportunity has fallen to 6. 

The Country's Jamie Mackay unpacked the results further.

LISTEN ABOVE

The gap between the two major parties has narrowed again, leaving people speculating about how the election could go.
According to the latest 1News-Verian poll, National has dropped to 29 points and Labour is holding steady on 27.
Meanwhile, the Greens have dropped to 15, ACT is on 12, NZ First has gone up to 10 and Opportunity has fallen to 6.&nbsp;
The Country's Jamie Mackay unpacked the results further.
LISTEN ABOVE

Jamie Mackay: The Country host unpacks latest 1News-Verian poll results

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/fa8eb235-e7f5-4f39-8f6b-b4f00072f850/transcript

Vittoria Shortt: ASB CEO on ASB posting record $1.56 billion full-year net profit

In 1 playlist(s)

Heather du Plessis-Allan Drive

Social links

Follow podcast

Recent clips