By Gareth Vaughan
New Zealand's big four banks are set to post a significant increase in combined annual profit.
ASB, with its June year balance date, delivered a 14% rise in annual profit after tax to $806 million back in August. Over the next couple of weeks the other three - ANZ New Zealand, BNZ and Westpac NZ - are set to post annual results on the same days their Australian parents do. (See yesterday's story for details of the group result expectations here).
With ASB's annual result already in, and after nine months of the other three's financial year, combined, they've recorded $3.37 billion worth of net profit after tax. That's just $116 million shy of the combined $3.486 billion annual net profit the four delivered last year.
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