Vittoria Short: ASB CEO on the company's half-year profit dropping by 11 percent

from Best of Business · host Newstalk ZB

ASB's CEO isn't surprised by today's reduced half-year profit. The bank has reported a 11 percent fall, due to slower lending, reduced margins and higher costs. CEO Vittoria Short says their profitability is linked to New Zealand's economy. "We've seen a slowing in growth as headwinds impact everything from inflation that's feeding through to businesses and homes- and also the rising interest rate environment. That's really contributed to the decline." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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This episode was published on February 14, 2024.

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