ANZ New Zealand's cash profit for the year to September has slumped - but it's not all doom and gloom

It's down 29 percent at 1.371 billion dollars.

Chief executive Antonia Watson says Covid-19 brought unprecedented challenges to New Zealand, which is reflected in the full year result.

But she says the bank has performed well in a difficult year.

She says it's showed it can weather challenging economic conditions, and play an important role, supporting customers through the crisis.