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.”

Strong growth in housing and deposits 

Mr Huggins says, “BNZ has supported more than 11,500 customers into home ownership, with first home buyers accounting for 33% of all new home loans as they took advantage of relatively flat house prices and lower mortgage rates.

“Since September 2024, BNZ’s advertised 1-year fixed rates have dropped 30% from 6.45% to 4.49%. For a household with a $500,000 mortgage, this equates to interest savings of $376 each fortnight or nearly $10,000 a year.

“Nearly 50% of our home loan customers are now on interest rates of 5% or less.

“Customers are making the most of the falling interest rate environment by paying their loans down faster, with more than 50% of customers’ home loan accounts projected to be ahead on their repayments by more than two years.

BNZ has also seen significant growth in deposits – up 5.8% or $4.8 billion on the prior year to a record high of $87 billion.

“As we move into a lower-interest rate environment, BNZ’s Rapid Save account continues to be a popular choice with one of the best savings rates in market. Over the past 12 months, Rapid Save has paid out more interest per dollar saved than any other major New Zealand bank savings account,” says Mr Huggins.

Well capitalised and ready to support growth 

“Despite the economic recovery taking longer than initially expected, there are reasons for optimism,” says Mr Huggins.

“Interest rates have fallen significantly, and New Zealand’s primary export sector is experiencing buoyant conditions driven by high export prices, a lower NZ dollar, and solid production.

“Manufacturing and tourism activity is recovering, and building consents and job ads are starting to lift after a long period of low activity.

“With the economy turning the corner, BNZ is well capitalised and in a good position to support our customers and New Zealand.

“Whether that’s making more capital available for investment, providing innovative banking solutions, or simply being there to help when customers need financial support.”

Note:

An unaudited summary of financial information for the 12 months ended 30 September 2025 follows:

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