Westpac NZ announces $583m profit, up 98%: Sale still being analysed, says CEO – Stuff.co.nz
Westpac New Zealands bounce back is quite a huge relief, says the Australian-owned banks chief executive.
The bank almost doubled its half-year profit to $583 million in the six months to March 31, compared to $297m a year earlier. The result was on the back of reduced provisions for bad loans after the economic effects of Covid-19 have so far proven less disastrous than first feared.
Compared to what I expected a year ago this is vastly different and quite a huge relief, said chief executive…