Wednesday 5th December 2018 |
Text too small? |
Bank of New Zealand is paying its Australian parent, National Bank of Australia, a $945 million dividend and the parent is giving $600 million of that back to it as additional equity.
BNZ reported a $1.03 billion net profit for the year ended September, up from $937 million the previous year.
A similar injection of capital happened last year as well when BNZ paid $1.405 billion in dividends to its parent which gave it $300 million of equity back.
BNZ’s latest disclosure statement shows total capital stood at $8.76 billion at Sept. 30 with $6.81 billion of that being common equity giving it a common equity ratio of 10.56 percent, well above the statutory minimum of 4.5 percent.
Its total capital ratio was 13.59 percent compared with the statutory minimum of 8 percent and its buffer ratio was 5.59 percent compared with the 2.5 percent statutory minimum.
(BusinessDesk)
No comments yet
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO
SUM - Summerset Considers Retail Bond Offer
SKC - Updated FY25 Full Year Earnings Guidance
Chorus considers Capital Notes offer
May 5th Morning Report
KPG - Kiwi Property announces GM Corporate Services
Mainfreight Limited - Trading Conditions Update 2 May 2025