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bank profits

Bank profits rosy, so why is ANZ attempting to casualise its workforce?

Date of Release: 
Thursday, September 25, 2014

As banks celebrate their windfalls today, workers at ANZ are considering going on strike to protect job security at New Zealand’s most profitable bank.

Australian banks make more out of Kiwi customers

Article Date: 
Wednesday, April 30, 2014

New Zealand’s big Australian-owned banks are making more out of their Kiwi customers than their Aussie customers, according to a report in the New Zealand Herald.

Huge surge in ANZ profits prompts calls for better working conditions

Date of Release: 
Thursday, May 1, 2014

A huge surge in profits at New Zealand's biggest bank has prompted calls for a decent wage increase and less stressful working conditions for the staff who helped generate this revenue.

The faster growing economy bolsters corporate profits

Date of Release: 
06/03/2014

More on banks profits this morning. 

Radio NZ's Economics Editor looked more generally at how company profits aren't getting anywhere near their workers. 

NZ banks urged to share profits with staff

Date of Release: 
05/03/2014

Following an annual report on banks, on Tuesday we said that big profits at New Zealand’s banks show they have ample room to improve pay and bring in less stressful working conditions.

Wealthy banks can better support staff

Date of Release: 
Tuesday, March 4, 2014

Big profits at New Zealand’s banks show they have ample room in coming weeks to improve pay and bring in less stressful working conditions, the bank workers’ union said today.

Record profits for Westpac

Friday, November 8, 2013

Westpac chief executive Peter Clare is confident that the bank’s record profits can continue after a 9% increase on last year brought profit to $770 million.

Rising profits have been attributed to a sharp reduction in bad debts (from $191 million to $117 million). Customer deposits rose 11% to $46.6 billion, outpacing overall lending growth of 4% to $61.6 billion.

BNZ net profit up 19.8%

Friday, November 1, 2013

BNZ’s statutory net profit to September 30 increased by 19.8% to $695 million, with cash earnings rising 6.3% to $788 million. Its Australian parent, National Australia Bank, posted after-tax profits rose by 33.6% to NZ$6.24 billion and cash earnings of NZ$6.8 billion.

Banking profits at pre-crisis levels

Friday, October 4, 2013

In the three months to June 30 NZ retail banks’ profits have risen $52 million (5.4%) to $1.023 billion, stirred by increased net interest margins (the difference between interest rates for borrowing and lending) and the growth in Auckland house prices (which are reported to have now hit record highs).

Big Four Aussie banks are killing it

Friday, May 10, 2013

The first half of the financial year has been very good to “Big Four” Australian-owned banks, which have turned in collective cash profits of $1.8 billion in the first half of the financial year. That equates to around $400 for every man, woman and child in New Zealand.

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