Live Breaking News & Updates on Executive Vittoria Shortt|Page 8

Source: ASB Bank
ASB today reported a cash net profit after taxation (NPAT)[1] of $614 million for the six months ended 31 December 2020, a decrease of 1% on the prior comparative period.
The result reflects the continued resilience of the New Zealand economy in the face of the ongoing impacts of COVID-19. Strong home and business lending growth was offset by reduced margins due to the low interest rate environment and increased operating costs reflecting ASB’s continued commitment to reinvest in its business.
In announcing the result today, ASB Chief Executive Vittoria Shortt says she is impressed with the way New Zealanders have risen to the COVID-19 challenge and that ASB is determined to continue playing its part in helping customers get through. “We’ve delivered significant financial support this half, but it’s been equally important for us to show flexibility and work with our customers to find innovative solutions to their personal and busine ....

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