ASB Bank posts $765 million half-year profit

Source: Radio New Zealand

RNZ / Marika Khabazi

ASB Bank has reported a flat half-year profit as higher expenses offset higher improved lending and margins.

Key numbers for the six months ended December 2025 compared with a year ago:

  • Net profit $765m vs $763m
  • Cash profit $719m vs $714m (excludes one-offs)
  • Total income $1.84b vs $1.78b
  • Operating expenses $839m vs $695m
  • Bad debt provisions $3m vs $17m
  • Net interest margin 2.35% vs 2.29%

The bank’s profit showed improvement in key areas of increased lending, larger margins, and improved income, but was balanced by a significant rise in expenses because of the settlement of the a class legal action over credit disclosures.

Chief executive Vittoria Shortt said the bank was seeing signs of economic improvement and that was flowing through into business.

“We are seeing more confidence in the economy, supported by lower interest rates and good export earnings in key sectors.”

“This is evident in the uptick we’ve seen in business lending, with more lending growth across small business, commercial and rural this half than in the previous financial year,” Shortt said.

Overall lending rose 6 percent to $118.7b, with housing loans up 8 percent, and rural and business lending 4 percent.

Total customer deposits rose 5 percent.

Banks have been competing for market share in the housing market, amid falling interest rates and large numbers of borrowers refixing their mortgages.

Net interest income – the difference between what the bank borrows at and charges for loans – increased 8 percent, while net interest margin, regarded as a measure of profitability, rose six basis points to 2.35 percent because of timing effects from interest rate hedges.

The amount set aside for bad and doubtful debts fell to $3m from $17m.

Expenses surge on case settlement

ASB’s operating expenses surged 21 percent to $839m, mostly because of the $135.6m out of court settlement of a class legal action brought by former consumer for alleged breaches of credit disclosure rules.

ASB never accepted liability, but said the settlement was a “pragmatic” way to settle the issue.

Shortt said ASB had spent more on improving its anti-scam defences and engaging with affected customers.

She said the bank, owned by Australia’s CBA, was also improving its technology to simplify its processes and offer better products to customers, as well as advance its own lending for social housing and business technology investment.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Nearly 40,000 more building products approved

Source: New Zealand Government

Thousands more plumbing and drainage products already used widely in Australia can now be accessed easily by Kiwi tradies and do-it-yourself homeowners.  
 
“The Government is focused on fixing the basics and building a better future for New Zealand, and that means making it easier and more affordable to deliver the homes and public buildings that will ease house prices and lift living standards,” Building and Construction Minister Chris Penk says.  
 
“It’s great to see the Ministry of Business, Innovation and Employment (MBIE) recognise a second tranche of overseas building products certified under the reputable Australian WaterMark scheme, issuing 54 recognition notices that cover around 38,274 products. 

“A first round in October made it easier to bring more than 90,000 WaterMark-approved products onto the market, including tapware, water service products, and sanitary and stormwater drainage products. 

“While these materials are already tried and tested in Australia and familiar to many tradies in New Zealand, Kiwi builders and designers previously had to individually demonstrate that each product met Building Code requirements when applying for consent to use it. 

“By amending the Building Act through the Overseas Building Products Amendment Bill, MBIE can now recognise building products already certified under overseas schemes in comparable countries in the tens of thousands, rather than one at a time.
 
“The granting of these recognition notices means Building Consent Authorities must accept the products as compliant, reducing unnecessary red tape, costs, and delays while allowing a more diverse range of materials to be used. 

“Supply chain shocks and shortages choke building productivity. Better access and greater choice provide industry with more resilience and increases market competition to put downwards pressure on prices for tradies and homeowners. 

“As MBIE continues to review overseas building products under the new law, tradies and homeowners can expect even better access to essential materials, including plasterboard, cladding, windows, and doors.”

Notes to editor:  

  • “Recognition notice” is the official term for approval of an overseas building product or standard by MBIE. 
  • Notices are not a blanket approval for all WaterMark certificates. Only products that have a valid, up‑to‑date certificate listed on a current notice can be used as meeting the required standards. 
  • Recognition notices are now publicly available at www.building.govt.nz, along with a diagram showing how these overseas standards fit within New Zealand’s building regulatory framework. 

Equal employment opportunities

Source: Privacy Commissioner

This policy outlines the commitment of the Office of the Privacy Commissioner (OPC) to equal employment opportunity, diversity and inclusion and to eliminating the barriers that cause or perpetuate inequalities in employment.

OPC aims to provide equal employment opportunities to make the most of the talents of all our people and attract top talent to the organisation. This policy applies to all OPC employees, including those on secondment to us.

Policy Statement

OPC is committed to upholding its responsibilities as an Equal Employment Opportunities employer and creating a workplace that attracts, retains and values a diverse workforce. 

2.2.    To achieve this OPC seeks to:  

a)    provide equal opportunities for recruitment, retention, development, and promotion of all its current and prospective employees, regardless of gender, sex, marital status, religious/ethical belief, ethnic or national origins, disability, age, political opinion, employment status, family status, or sexual orientation

b)    develop and maintain a workplace culture that values and supports diversity and inclusion

c)    ensure that it provides a safe, supportive, and healthy environment for all employees that is conducive to quality service delivery

d)    provide a workplace that welcomes, respects, and includes rainbow and takatāpui communities 

e)    identify and seek to eliminate all aspects of policies and procedures or other institutional barriers that cause or perpetuate inequality in respect of the employment of any person or group of persons

f)    ensure all staff appointments are made solely on the basis of merit, and that all promotions, advancements, salary reviews and professional/career development opportunities are based solely on merit

g)    seek to improve employment opportunities for groups who are traditionally under-represented in either occupational groups or levels of seniority, in particular women, Māori and Pacific people

h)    not tolerate any form of unfair discrimination in the workplace on any ground, including gender, sex, marital status, religious/ethical belief, ethnic or national origins, disability, age, political opinion, employment status, family status, or sexual orientation

i)    promote equal employment opportunities as an integral part of OPC workplace policies and practices

j)    monitor, review and evaluate progress towards achieving equal employment opportunities. This includes assessing and, if required, reducing identified gaps at all levels of the organisation.

Responsibilities 

General Manager

Framework development, implementation and compliance monitoring. Progression against OPC’s Kia Toipoto and DEI Action Plans.Supporting and training for OPC leaders and teams.

Managers

Creating an environment that promotes EEO/diversity. Understanding their obligations under applicable legislation and processes and ensuring compliance.Ensuring that all practices and procedures that apply to the staff for whom they are responsible are consistent with this policy.

All employees

Accountability for themselves and their activities to act in accordance with our EEO principles and OPC values.

References

Relevant Legislation

Persons/ Areas affected All OPC employees and secondees
Contact General Manager
Approval authority Senior Leadership Team
Last review date February 2026

Person dies days after Wellington motorway crash

Source: Radio New Zealand

The person died in hospital from injuries sustained in the crash. (File photo) RNZ / Nate McKinnon

One person has died after a crash on Wellington’s State Highway two at the Ngauranga Interchange on Sunday.

Emergency services were notified of the crash about 2am.

One person had now died from their injuries, police confirmed.

Police continued to investigate the circumstances of the crash.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

No dog, no – more “canine tourists” seen in cars in the Aoraki/Mount Cook National Park

Source: NZ Department of Conservation

Date:  11 February 2026

Pets are not permitted in New Zealand’s national parks or on DOC land where dogs are prohibited – even if the hounds are inside vehicles – and owners could face a $400 infringement fee.

DOC Principal Investigations Officer Marlous Heijs says staff at Aoraki/Mount Cook are seeing more canines in cars because they’re monitoring vehicles during the paid parking pilot running at Whitehorse Hill.

Staff have issued seven infringement notices in less than two months.

“We know this is an issue right around the country, but over the past couple of months our staff have seen it first hand at Aoraki, where they’ve spoken to people and gathered information and evidence,” she says.

“Some of the photos are quite classic. The dogs are clearly enjoying hanging out the windows and taking in the mountain air – but the issue of dogs in national parks is serious.”

“The rules are there to protect our precious native species. Dogs are loveable and popular pets, but they can have a massive impact on protected birds, plants and animals – and any pet can make a mistake and attack wildlife, defecate or dig something up,” she says.

A report compiled and released by DOC’s National Compliance Team in October 2025 revealed 75 recorded incidents of dogs attacking, killing, or harassing wildlife between 9 September 2020 and 12 August 2025.

“People sometimes plead ignorance of the rules or try and argue their pets staying in the vehicle don’t present an issue, but we’ve seen dogs being let out to have a run around and to toilet,” Marlous says.

“There is also an animal welfare issue, given how long it takes to drive to Aoraki and the amount of time people spend there,” she says.

Last December the SPCA issued a media release asking people to be more aware over summer about the risk of leaving their pets in cars during the hot December/January months.

SPCA receives hundreds of calls every summer about dogs left in hot cars – a preventable and heartbreaking welfare issue.

“You wouldn’t leave a child in a hot car,” says SPCA CEO Todd Westwood. “Please do the same for your furry family members.”

Todd says SPCA is reminding the public even on mild days, the temperature inside a car can rise rapidly. On a 21°C day, a car parked in the shade with windows down can still reach more than 31°C in just 10 minutes, and more than 40°C in 30 minutes.

“Dogs cannot cool themselves effectively in enclosed spaces. Panting alone is not enough. Parking in the shade or lowering windows does little to reduce the risk.”

Marlous says she’s surprised at what some pet owners do and it’s not just dogs. People have brought in cats and even goats into various national parks around the country wanting to walk the tracks.

She says it’s a pet owners’ responsibility to do research before taking pets onto public conservation land.

Roads running through some national parks in New Zealand are administered by Waka Kotahi/NZTA and as public roads, you are permitted to drive through them with a pet in your car. Aoraki/Mount Cook is not one of them.

“Many of the roads within Aoraki Mount Cook National Park are administered by DOC and are known as a ‘park road’. This includes most of the roads within Mount Cook Village and the road to White Horse Hill Carpark where many short walks start. These roads are part of the National Park therefore the same rules apply (no dogs in vehicles). These are all well signposted, and there is plenty of information online about where you can (and can’t) take your dog.”

Marlous Heijs says the clear message for everyone is pet owners have a key role to play in looking after nature.

“Our message is ‘leave your dog at home if you’re going naturing in a national park’. There are plenty of other places to go with your dog, but this isn’t one of them.”

Contact

For media enquiries contact:

Email: media@doc.govt.nz

Finance Minister promises to release data showing gas plan will lower power bills

Source: Radio New Zealand

Finance Minister Nicola Willis. RNZ / Samuel Rillstone

Finance Minister Nicola Willis has committed to releasing all the calculations which she says show the government’s new gas plan will reduce New Zealanders’ power bills.

The government is pushing ahead with plans to build a new liquefied natural gas (LNG) import facility in Taranaki, funded by a charge levied on electricity companies.

Labour was quick to label the levy a “gas tax” which would be passed on to consumers, driving up power bills.

But speaking on Morning Report’s politics panel on Wednesday morning, Willis said the official advice was that the new facility would provide more energy security, ultimately bringing bills down.

“At the moment, in New Zealand, everyone pays a big risk premium for the fact that everyone is desperately worried that in the days when there’s not enough rain in the lakes and the sun’s not shining and the wind’s not blowing, we do not have enough gas.”

Willis said that risk premium would go down once the plant was built around 2028.

“The advice we’ve received… is that the reduction in the risk premium will far outweigh the cost to the energy generators of supporting the development of the LNG plant.

“We did all the analysis because we wanted to be clear that there would be more benefit than cost – and the analysis is very clear.”

Labour Party energy spokesperson Megan Woods. RNZ / Samuel Rillstone

Responding, Labour’s energy spokesperson Megan Woods said that was “absolute nonsense”.

“This is putting a gas tax on New Zealanders at a time when they’re already struggling with their power bills. The government hasn’t released the modelling. They haven’t shown us the alternatives they looked at.”

Woods said National was scrambling for solutions after cancelling Labour’s whole work programme on affordable energy storage.

“They are going for an expensive option that is going to be… taxed on New Zealanders each and every month, on their power bill, because this government has failed to do the work.

“There’s a reason they didn’t release the modeling yesterday with all the other papers.”

Willis said the government would release that modelling “pretty shortly”.

“But let’s just remember: Labour’s decisions pushed power prices up. Our solution will save Kiwis money,” Willis said.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

How to set RNZ as your preferred source when you Google Search

Source: Radio New Zealand

The ‘preferred sources’ feature lets you customise your results. Unsplash

A new Google feature lets you choose which publishers you want more of in your Search results, offering you a more personalised experience.

The ‘preferred sources’ feature lets you customise your results and by selecting RNZ as yours, you’ll see more of our articles in Google Top Stories and Search results, which means more of our great journalism.

As New Zealand’s independent non-commercial public media organisation, RNZ serves as a platform for topics that matter to New Zealanders, delivering a diverse range of content that reflects who we are for over 100 years.

To make sure you see more of RNZ’s content in search results It’s really simple; just click here and type RNZ into the box, tick the box next to rnz.co.nz, and you’re done.

Alternatively you can:

  • Open Google and search for any topic, e.g. “NZ news”
  • Click on the Cards star icon on the right of Top Stories
  • Search for RNZ and tick the box
  • Click “Reload results”

Once you select sources, those publishers will appear more often and more prominently in the Top Stories or the dedicated “From your sources” section of the Search results page – it’s that easy.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

How to limit processed meats for lunch

Source: Radio New Zealand

I have a confession to make.​

I buy myself a really expensive prosciutto that is cured only with salt. My kids, on the other hand, are fed ham and salami with ingredients that have a long list of weird chemical-sounding additives like pyrophosphates and polyphosphates hidden behind the numbers like E451 and E452. My prosciutto is merely considered processed, whereas what I feed my kids reaches the level of ultra-processed. 

Look here, people, my prosciutto is more than $100 a kilo, and I buy the tiniest amount each week. Grocery store ham or salami costs a little over $30 a kilo.

A sandwich with layers of ham and mayonnaise.

victor_16605

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand

Minister to attend Munich Security Conference

Source: New Zealand Government

Defence Minister Judith Collins departs today for Germany to attend the international Munich Security Conference. 

“In a turbulent and unpredictable world, the Munich Security Conference is an important opportunity to debate key security issues that impact New Zealand,” Ms Collins says.

“This year the conference brings together global decision-makers and military leaders from more than 100 countries, working to bolster cooperation, collective security and the peaceful resolution of conflicts.”

During the three-day conference Ms Collins will hold bilateral meetings with a number of New Zealand’s long-standing defence partners, including the United Kingdom’s Secretary of Defence, John Healey, and NATO Secretary General, Mark Rutte.

She will also speak at a session focused on the interconnected nature of security challenges in the Indo-Pacific and Euro-Atlantic regions.

“I look forward to sharing New Zealand’s perspectives on a range of international issues, particularly the interconnected security challenges facing both of our regions such as Russia’s illegal invasion of Ukraine and escalating strategic competition. 

“As a small nation reliant on trade at the bottom of the southwest Pacific, we must take every opportunity to sit at the table and advocate for our interests and values.”

Ms Collins will return to New Zealand on 16 February.

One dead, two critical after Wairoa crash

Source: Radio New Zealand

RNZ / Patrice Allen

One person has died and two others remain in critical condition following a crash in Wairoa.

Police say the crash was reported to emergency services around 3pm on Tuesday.

The crash closed the intersection of Black Street and Archilles Street on State Highway 2 for a period while the Serious Crash Unit investigated.

Police said the death would be referred to the coroner.

Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.

– Published by EveningReport.nz and AsiaPacificReport.nz, see: MIL OSI in partnership with Radio New Zealand