ASB profit drops to $1.4b as class action settlement lifts costs

NZ Herald12 Aug, 2026 12:49 AM2 mins to readASB has posted a lower full-year profit, after its expenses rose on the back of a class action settlement. Photo / Fiona GoodallASB has posted a lower full-year profit, after its expenses rose on the back of a class action settlement. Photo / Fiona GoodallASB has posted a lower annual after-tax profit, with its $135.6 million class action settlement seeing operating expenses rise amid a year with uneven economic forces.The bank posted a net profit after tax of $1.4 billion for the year to June 30, down from $1.45b a year earlier.