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June 03, 2015 6:47 AM ET

Banks

Company Overview of ASB Bank Limited

Company Overview

ASB Bank Limited, together with its subsidiaries, provides various banking and other financial services in New Zealand. It offers various personal banking services, such as transaction accounts, Visa debit cards, savings accounts, kids accounts, and school leavers and graduates accounts; home loans; credit cards; personal loans; investment advice, managed funds, retirement schemes, and share trading; foreign exchange services and foreign currency accounts; and home, contents, motor vehicle, life and loan protection, and travel insurance products. The company also provides a range of business banking services comprising business accounts, Visa credit cards, business insurance products, IT lea...

ASB North Wharf

12 Jellicoe Street

Auckland Central

Auckland,  1010

New Zealand

Founded in 1847

Key Executives for ASB Bank Limited

Chief Executive Officer, Managing Director and Executive Director
Age: 54
Chief Financial Officer
Executive General Manager of People and Operations
General Manager of Corporate Banking
Head of Group Product
Compensation as of Fiscal Year 2014.

ASB Bank Limited Key Developments

ASB Bank Limited Reports Unaudited Consolidated Earnings Results for the Nine Months Ended March 31, 2015

ASB Bank Limited reported unaudited consolidated earnings results for the nine months ended March 31, 2015. For the period, the company reported net interest earnings of NZD 1,271 million against 1,160 million for the same period of last year. Interest income was NZD 3,056 million against NZD 2,679 million for the same period of last year. Total operating income was NZD 1,567 million against NZD 1,472 million for the same period of last year. Net profit before taxation was NZD 913 million against NZD 863 million for the same period of last year. Net profit after taxation was NZD 657 million against NZD 622 million for the same period of last year. Net cash flows from operating activities were NZD 564 million against NZD 52 million for the same period of last year.

ASB Bank Limited Appoints David Cohen as Non-Executive Director

ASB Bank Limited announced that Mr. David Cohen has on April 2, 2015 joined the board of ASB Bank Limited as a non-executive director. Mr. Cohen is a Commonwealth Bank of Australia Group Executive, having joined CBA in 2008. In addition to being responsible for Group Corporate Affairs, Mr. Cohen is also the Group General Counsel.

ASB Bank Limited Reports Unaudited Consolidated Earnings Results for the Half Year Ended December 31, 2014

ASB Bank Limited reported unaudited consolidated earnings results for the half year ended December 31, 2014. For the period, the company reported interest income of $2,033 million against $1,785 million for the same period in the last year. Net interest earnings were $850 million against $771 million for the same period in the last year. Total operating income was $1,052 million against $984 million for the same period in the last year. Net profit before taxation was $617 million against $576 million for the same period in the last year. Net profit after taxation was $444 million against $416 million for the same period in the last year. Cash net profit after taxation was $429 million against $393 million for the same period in the last year. Return on ordinary shareholder's equity was 19.0% against 17.5% for the same period in the last year. Return on total average assets was 1.3% against 1.2% for the same period in the last year. Net interest margin improved as a result of the continued focus on margin performance, up 15bps period on period.

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