ASB profit drops to $1.4b as class action settlement lifts costs
The New Zealand Herald
ASB's annual after-tax profit fell to $1.4 billion due to a $135.6 million class action settlement.Summary
ASB has reported a decline in its annual after-tax profit to $1.4 billion for the year ending June 30, a decrease from $1.45 billion the previous year. This reduction was driven by a significant rise in operating expenses, largely attributed to a $135.6 million settlement related to a class action.
(Source：The New Zealand Herald)