Westpac profit up
hhtp://www.interest.co.nz
Westpac 1st half profit up 12%
Bad debt charges up 45% to NZ$61 mln
But this out of 46.3 billion
Lending growth strong
Consumer lending up 12%, but mortgages slowing in late 2007
Business lending up 14%, Agriculture, Corporate lending
Deposit volumes up 15% to NZ$26.5 bln
Banks doing well at expense of non-banks
Margins tight, Non interest income flat
Costs tight, big improvement in cost to income ratio.
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: 01/05/08 04:03
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