Vittoria Short: ASB CEO on the company's half-year profit dropping by 11 percent
Heather du Plessis-Allan Drive · Newstalk ZB
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Show Notes
ASB's CEO isn't surprised by today's reduced half-year profit.
The bank has reported a 11 percent fall, due to slower lending, reduced margins and higher costs.
CEO Vittoria Short says their profitability is linked to New Zealand's economy.
"We've seen a slowing in growth as headwinds impact everything from inflation that's feeding through to businesses and homes- and also the rising interest rate environment. That's really contributed to the decline."
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