Originally Posted by
iceman
Yes ASB reported increased cash earnings up 9% to $846M. Biggest profit ever for ASB. They've grown their home mortgage book 5% to 43.7 Billion and their Business & Rural lending book up a massive 14% to $ 20 Billion.
But impairments for bad debts have also increased from $56 Million to $89 Million. While a significant amount, it is not huge in the scheme of things and ASB seems to maintain confidence in the rural sectors. This is good news, albeit still early in the dairy downturn cycle.