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.
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.
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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