Bank of New Zealand Analysis

Overview

BNZ was incorporated on July 29, 1861 and its ultimate parent bank is National Australia Bank Limited. The businesses and affairs of BNZ and all of its wholly owned entities (the Banking Group) are managed by, or under the direction or supervision of, the BNZ Board of Directors and the BNZ Chief Executive Officer in compliance with the requirements and regulations of the Banking Group's primary regulator, the RBNZ. BNZ is a registered bank under the Reserve Bank of New Zealand Act 1989.

The Banking Group is one of New Zealand's largest banking organizations and provides a broad range of banking and financial products and services to retail, business, agribusiness, corporate and institutional clients. The Banking Group is organised into three major operating and reportable segments: Private, Wealth & Insurance, Corporate & Institutional Banking and BNZ Partnership Banking. These segments are supported by the specialist units of Customer, Product and Services, Corporate Affairs, Finance, People, Risk, Technology and Operations, and Transformation and Strategy.

Performance

The following information was extracted from the Bank of New Zealand's full year results, released 6 November2025:

BNZ 2025 Full Year Result

BNZ today released its full year result to 30 September 2025, reporting a statutory net profit after tax of $1,499 million, down $7 million or 0.5% on the prior year.

BNZ CEO Dan Huggins says, “the result reflects the current economic environment as New Zealanders continue to navigate an economy that is taking longer than anticipated to recover.” BNZ’s revenue decreased by 3.7% year on year. Total lending increased 4.6% with home lending up 6.4% and business lending up 2.2%.

“Over the past 12 months, we’ve focused on what matters most – supporting our customers and continuing to invest in initiatives to make banking simpler, easier and more accessible,” says Mr Huggins.

“As New Zealand’s largest business bank, we’ve increased support for our business customers with over 50 additional specialist business bankers around the country. We’ve made our onboarding process for businesses easier, cutting the average time it takes to join BNZ by half.

“Payap, backed by BNZ and powered by open banking, was launched as a cheaper way to pay and be paid, helping merchants reduce their transaction costs. We’ve also been upgrading our branch network and Partners Centres across New Zealand with all our branches now open from 9.30am to 4.00pm at least five days a week.

“This approach has helped us grow our market share as more customers choose to bank with BNZ. More than 100,000 customers joined BNZ in the 12 months to 30 September 2025, with BNZ voted Canstar 2025 best bank for small business, and winner of the best business bank accounts award and most satisfied customers home loans award.

“We also continue to have the highest Consumer Net Promoter Score of any major New Zealand bank.”