The Bank of New Zealand says growth in full profit has slowed, as economy faces difficult times.
Overall profit rose 9% to $657 million in the year to the end of September, compared with an increase of 13% last year.
Cash earnings for the New Zealand banking operations rose 12% to $482 million.
Revenue rose 5% to $1.8 billion. Lending volumes were up 10% and deposits rose 7%.
Though the economy faces difficult times, BNZ says it is in a sound position.
The bank increased its provisions for bad debt, but says the quality of its loans remains strong due to a conservative lending approach and it is in a strong position to weather the global economic slowdown and financial crisis.
Meanwhile, parent company National Australia Bank has warned of a further slowdown in Australia, after its cash earnings fell 10% to $A3.9 billion in the year to September.
