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National Australia Bank posts record second-half profit

SYDNEY: National Australia Bank, the biggest in the country, posted a record second-half profit as lending increased in an economy that has entered its sixteenth consecutive year of expansion.

Net income climbed 1.8 percent to 2.44 billion Australian dollars, or $2.26 billion, in the six months ended Sept. 30 from a year earlier, the company said Friday. It also tapped demand for loans in Britain, where it earns almost 20 percent of its profit.

The Reserve Bank of New Zealand

The Reserve Bank of New Zealand is New Zealand's central bank and has three main functions. At the most basic level, the Reserve Bank ensures that people can buy and sell goods and services using money, instead of having to barter. Part of this involves providing currency. Cash is physically issued to the public by commercial banks, but they in turn must buy their cash from the Reserve Bank.


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