Westpac December quarter profit rises on higher fee income, lower expenses and impairments
20th Feb 14, 5:03pm
by
By Gareth Vaughan
Westpac NZ has posted a 55% jump in December quarter profit thanks to a surge in transaction fee and commission income, a drop in operating expenses, and falling impairment charges on loans.
The bank also grew its residential mortgage book by 1.3%.
This is an abridged version of this article. The full version was published in our email for paying subscribers. See here for more details and how to subscribe.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.