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Source: ONE News
The ASB Bank has announced an after tax operating profit of $238 million for the six months ending in December 2008.
The company says this is a drop of around 10.9% on the previous year.
It includes $41 million in losses due to a move to new accounting standards.
However, the bank says its underlying businesses continued to perform well, with total assets increasing by 16.3% on the December 2007 half-year to $65.3 billion, and lending balances growing by 8.6% to $52.5 billion.
ASB's parent bank, the Commonwealth Bank of Australia, says its cash half-year profit was just over $AU2 billion - a 16% fall on a year earlier.
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