ASB today reported a statutory net profit after taxation (NPAT) of $1,274 million for the year ended 30 June 2019. This represents an 8% increase on the prior year. This included a one-off $46 million gain from the sale of Paymark Ltd.

Cash NPAT was $1,191 million, an increase of 4% on the prior year. Cash NPAT presents ASB's underlying operating results and excludes items that introduce volatility and/or one-off distortions which are not considered representative of ASB’s on-going financial performance.

ASB Chief Executive Vittoria Shortt said the result was the product of a solid across the board performance. "While all parts of the business contributed to the result, growth in underlying profit was more subdued this year, reflecting a backdrop of slowing credit growth in the business and consumer finance sectors."

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