TMM - News

Bank profits under pressure - KPMG

Wednesday 18th of July 2018

In its latest Financial Institutions Performance Survey (FIPS), KPMG says New Zealand banks’ experienced an 11.35% drop in net profit after tax in the March 2018 quarter.

This left the banking sector’s profits at $1.24 bilion.

Although they saw their net interest income increase by $54 million, non-interest income decreased by $144 million and operating expenses rose by $16 millio...

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