New Zealand

Details

  • Industry: Financial Services
  • Type: Survey report
  • Date: 23/10/2012

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John Kensington

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Graeme Edwards - Head of Audit

Graeme Edwards 

Head of Audit

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FIPS Quarterly - June 2012 

fips june 2012

 

Results from the major banks to 30 June 2012

 

Net profit for the quarter was $914m, up 44.6% from the previous quarter.

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This sharp increase in profit is more due to the low base level of profit in the March quarter, which was due to losses on trading securities and derivative financial instruments (as discussed in the March 2012 FIPS).

 

This highlights the impact of market volatility on the banks’ quarterly earnings, particularly around the unrealised gains inherent in derivative portfolios.

 

Please contact us if you would like to hear more about this latest FIPS quarterly.

Financial Institutions Performance Survey - FIPS surveys and quarterly updates produced by KPMG's Financial Services team.