Sharechat Logo

BNZ-NAB money-go-round ends up with $345M for Australian parent

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)

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

MARKET CLOSE: NZ shares fall as investor uncertainty weighs on exporters; F&P Health, A2 drop
NZ dollar drops below US68c on plan to up bank capital
Noel Leeming fined $200,000 for misleading consumers
Big four banks face stiffer capital requirements from RBNZ
Infratil signals A$50m investment in Canberra Data Centres
Govt provides $2.5 mln to develop Opotiki aquaculture
Labour co-ordinator role may alleviate kiwifruit labour shortage
NZ manufacturing activity chugs along in November
Australia's GWA lobs in $118M bid for Methven
Govt leaves door open for higher emissions price cap

IRG See IRG research reports