ANZ New Zealand's boss is defending its record-high profit
ANZ New Zealand's boss is defending its record-high profit
11 November 2025
Our largest bank has seen annual profit surge 21-percent to 2.53 billion dollars -- largely due to good returns from hedging investments.
But Chief Executive Antonia Watson says underlying profit's only up about four-percent.
She says OCR cuts are being passed on to customers at a sustainable pace, and banks are competing hard for customers.
Watson says in an average month, 25-percent of customers whose home loans are coming up for renewal are switching.
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