Vittoria Shortt: ASB CEO on the bank reporting profit drop to $1.3 billion for the year

ASB's settlement over alleged historic breaches of credit disclosure rules has affected its bottom line. The bank reached a $135.6-million-dollar settlement in October last year. In annual results released today, ASB's reporting a six-percent rise in operating income, but a 16 percent rise in operating expenses. CEO Vittoria Short says inflation and new investments in technology also added to the profit drop.  LISTEN ABOVESee omnystudio.com/listener for privacy information.