BNZ has reported a statutory net profit of $1.49 billion after tax in its full year result to September 30, 2025.<\/p>\n
The bank said it is down $7 million, or 0.5%, on the previous year.<\/p>\n
Revenue decreased at BNZ by 3.7% year on year, while total lending increased 4.6%, with home lending up 6.4% and business lending up 2.2%.<\/p>\n
BNZ chief executive Dan Huggins said the result “reflects the current economic environment as New Zealanders continue to navigate an economy that is taking longer than expected to recover”.<\/p>\n
“BNZ has supported more than 11,500 customers into home ownership, with first home buyers accounting for 33% of all new home loans as they took advantage of\u00a0relatively flat\u00a0house prices and lower mortgage rates.”<\/p>\n
Huggins said nearly 50% of home loan customers are now on interest rates of 5% or less.<\/p>\n
“Customers are making the most of the falling interest rate environment by paying their loans down faster, with more than 50% of customers\u2019 home loan accounts\u00a0projected to be ahead on their repayments by more than two\u00a0years.”<\/p>\n
Deposits were also up at BNZ by $4.8 billion or 5.8% on the year prior, taking the total to a record high of $87 billion.<\/p>\n
On the economy, Higgins said there was reasons for optimism despite recovery “taking longer than initially expected”.<\/p>\n
\u201cInterest rates have fallen significantly, and New Zealand\u2019s primary export sector is experiencing buoyant conditions driven by high export prices, a lower NZ dollar, and solid production. <\/p>\n
\u201cManufacturing and tourism activity is recovering, and building consents and job ads are starting to lift after a long period of low activity.”<\/p>\n
The morning’s headlines in 90 seconds, including new speed cameras rolling out, fireworks start fires around the country, and Bluey\u2019s new Christmas project. (Source: 1News)<\/p>\n","protected":false},"excerpt":{"rendered":"BNZ has reported a statutory net profit of $1.49 billion after tax in its full year result to…\n","protected":false},"author":2,"featured_media":120317,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-120316","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/120316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=120316"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/120316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/120317"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=120316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=120316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=120316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}