Banks: Summary income statement and related ratios (S20)
This data is a summary of the income and expenditure flows of banks along with a summary balance sheet and a variety of accounting ratios.
|Dec 2020||Dec 2021||Mar 2022||Jun 2022||Sep 2022||Dec 2022|
|Income statement ($m)|
|Net interest income1||2,857||3,127||3,190||3,436||3,747||3,934|
|Total operating income1||3,362||3,904||4,078||4,302||4,401||4,424|
|Impaired asset expenses1||-135||-50||61||64||111||125|
|Profit before tax1||2,005||2,391||2,490||2,552||2,611||2,618|
|Profit after tax1||1,439||1,718||1,832||1,826||1,888||1,885|
|Balance sheet ($m)|
|Profit ratios (%)|
|Return on assets1||0.9||1.0||1.1||1.1||1.1||1.1|
|Return on equity1||12.0||12.6||12.8||13.0||12.9||12.9|
|Net interest margin (%)|
|Interest income to interest-earning assets1||2.94||2.80||2.98||3.42||4.13||4.81|
|Interest expense to interest-bearing liabilities1||1.19||0.96||1.15||1.54||2.20||2.95|
|Net interest margin1||1.94||2.00||2.05||2.17||2.31||2.37|
|Other ratios (%)|
|Other income to total operating income1||15.0||19.9||21.8||20.1||14.9||11.1|
|Other income to total assets1||0.3||0.5||0.5||0.5||0.4||0.3|
|Operating expenses to total operating income1||44.4||40.0||37.4||39.2||38.2||38.0|
|Operating expenses to total assets1||0.9||1.0||0.9||1.0||1.0||0.9|
|Impaired asset expenses to total operating income1||-4.0||-1.3||1.5||1.5||2.5||2.8|
|Number of registered banks||27||27||27||27||27||27|
The data: coverage, periodicity and timeliness
Since June 2013, we have conducted a monthly survey of registered banks' financial performance.
View the list of registered banks
Data from 1 July 2013 in this table is sourced from the Registered Bank Income Statement Survey (ISS).
The survey was updated in July 2018 to collect information that could be used to calculate selected monthly yields. This also enabled the provision of a more detailed breakdown of interest earned on loans and advances in these quarterly tables. Please note there are minor variances between the discontinued ‘Housing loans’ and ‘Other loans’ series and the ‘Total loans’ series, as a result of data quality improvements following the introduction of the updated survey.
Earlier data (to provide a historical context) has been sourced from registered banks' Disclosure Statements and the Net Interest Margin Survey.
We calculate the income data presented in the tables by aggregating the consolidated information for registered banks.
As the data are quarterly income and expense flows, they will tend to be more volatile than balance sheet data. Movements in interest rates, exchange rates and the number of days in a quarter will all have an influence on the flows along with one-off income or expense items that occur in a single quarter.
We release data approximately two months after the reference quarter.
Access by the public
Statistics release calendar
The statistics release calendar provides a long-term plan of scheduled releases. We update and release it on the first working day of the month.
View the statistics release calendar
Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses
We provide this information as a service to the public in a format that preserves the confidentiality of transactions. Our function and operations are governed by the Reserve Bank of New Zealand Act 1989.
We publish aggregated data. Individual institutional data is confidential.
Find out more about the Reserve Bank of New Zealand Act
Provision of information about revisions and advance notice of major changes in methodology
Provisional data are italicised. We deem data as provisional when a series is under review. New data, or revised data, are in bold font. This applies to the summary table only and not Excel files. We generally publish revisions when we are next due to update and release the table. Should we need to make revisions more promptly, we will post a special note.
We will post any major changes in methodology as a special note.
Dissemination of documentation on methodology and sources used in preparing statistics
The survey template and definitions are available.
Comparability over time
We sourced the most recent data from the ISS, which was introduced in July 2013. Improvements to the ISS return were made in 2018 to enable the publishing of selected monthly yield data. These improvements have also resulted in improvements to the S21 table from September 2018.
To provide a historical context data from other sources has been used. This includes the Net Interest Margin Survey and publicly available Disclosure Statements. The information available from these other sources is not as detailed as that provided by the ISS.
While all the data is based on generally accepted accounting standards (GAAP), these have changed over time, particularly over 2005–07 when New Zealand moved to the international standards. A fuller explanation of that changeover is provided below. Consequently some of the data may not be fully comparable.
Changes to accounting standards
A new version of NZ IFRS 9 became effective for reporting periods beginning on or after 1 January 2018. Banks have been adopting the standard during 2018 at the start of their new financial years.
Between 1 January 2005 and 1 July 2007, banks in New Zealand changed accounting standards from New Zealand accounting standards (NZ GAAP) to New Zealand International Financial Reporting Standards (NZ IFRS). The move to NZ IFRS affects both balance sheet and income data from banks’ disclosure statements.
Between 2005 and 2007 data is a combination of data reported under the two sets of accounting standards. For the 31 December 2005 quarter, 92% of the total assets of registered banks reported were held by banks using NZ IFRS.
Dates from which banks adopted NZ IFRS are:
Banks adopting NZ IFRS:
1 January 2005
The Hong Kong and Shanghai Banking Corporation Limited
1 July 2005
ASB Bank Limited
Commonwealth Bank of Australia
1 October 2005
ANZ National Bank Limited
Bank of New Zealand
Westpac Banking Corporation
1 January 2006
Rabobank New Zealand Limited
1 January 2007
ABN AMRO Bank NZ
Deutsche Bank AG
1 April 2007
TSB Bank Limited
The Bank of Tokyo-Mitsubishi UFJ
1 July 2007
Total interest income
The value of interest earned on interest-earning assets.
Interest from cash and deposits
Interest earned from accounts with us and from deposits (other than securities) with other banks.
Interest from debt securities
Interest earned from securities that can be bought or sold during the life of the security. Debt securities include government bonds, corporate bonds, CDs, local body bonds, preferred stock, collateralised securities (such as CDOs, CMOs, GNMAs) and zero-coupon securities.
Interest from mortgages
Interest on total loans fully secured by residential mortgage (fixed and floating).
Interest from floating mortgages
Interest on the total of all floating rate loans fully secured by residential mortgage.
Interest from fixed mortgages
Interest on the total of all fixed rate loans fully secured by residential mortgage.
Interest from loans to business
Interest earned from business loan products includes loans cross collateralised between residential property and other assets (but not fully secured by residential mortgage) and all other non-financial business loans. It includes loans to both non-financial large (institutional) businesses and SME businesses. It excludes lending to households and, where counterparty information is available, excludes loans to customers in the finance, government (central and local) and NPISH sectors.
Interest from all other loans
Interest earned on all other loans, both secured and unsecured, includes interest earned on credit cards and personal loans, and interest income earned on securities with other banks purchased under agreement to resell (repos with banks). It also includes other net adjustments to items such as amortised fee expenses/income, early repayment penalty interest and discount unwind on individual provisions. The latter are adjustments made by banks to interest income for the non-interest component of the effective interest rate calculation.
Derivative interest income
Net interest flows for hedges associated with assets. The value can be positive or negative.
Other interest income
All other interest income not included elsewhere.
Total interest expense
The value of interest incurred on interest-bearing liabilities.
Interest incurred on deposits
Interest incurred on deposits that have been placed with a bank.
Interest incurred on debt securities
Interest incurred on securities issued by a bank that can be bought or sold during the life of the security.
Interest incurred on borrowing
Interest incurred on loans supplied to a bank.
Derivative interest expense
Net interest flows for hedges associated with liabilities. The value can be positive or negative.
Other interest expense
All other interest expense incurred not included elsewhere.
Net interest income
Interest income less interest expense.
Total other income
Total income earned by a bank other than that generated from interest.
Derivative income that was not reported as interest. The value can be positive or negative.
Income, other than interest income, earned from financial assets classified as held for trading. The value can be positive or negative.
Other fair value adjustments
Includes all fair value adjustments through the income statement not included elsewhere. The value can be positive or negative.
Fees and commission income
Income from customers for the provision of services. Includes credit cards, transaction/ deposit account services and credit facility related fees.
All other income not included elsewhere.
Share of profit and loss of associates and joint ventures accounted for using the equity method
Income from associates and joint ventures accounted for using the equity method.
Total operating income
Net interest income plus total other income.
Total operating expenses
Expenses incurred other than interest or on the impairment of an asset.
Expenses related to the employment of bank staff.
Fees and commission expenses
Fees and commission incurred for services provided to banks.
Other operating expenses
All other expenses not included elsewhere.
Other operating expenses – occupancy
Expenses related to building occupancy costs for owned and leased/rented property.
Impaired asset expenses
Amounts charged against income to provide against potential or actual loan losses. Includes write backs when potential losses don't eventuate.
Other comprehensive income
Primarily fair value movements taken directly to equity and therefore not included in profit.
Profit before tax
Profit (or loss) before deducting tax expense.
Profit after tax
Profit (or loss) after income tax expense.
Profit attributable to non-controlling interest
The share of profit in partly owned subsidiary companies that belong to the other shareholders of those subsidiaries.
Profit attributable to equity holders of the parent
Profit available to the shareholders of registered banks.
Total assets held by banks.
Interest-earning assets held by banks.
Total liabilities held by banks.
Interest-bearing liabilities held by banks.
Shareholders' capital including ordinary capital, retained earnings, perpetual preference shares, other reserves and head office accounts of overseas-incorporated banks.
Number of registered banks
All banks operating in New Zealand must be registered with us. The number of registered banks has varied over time.
See the list of registered banks
Return on assets
Profit after tax as a percentage of average total assets. Data has been annualised by multiplying by the number of days in the year/number of days in the quarter.
Return on equity
Profit after tax of banks incorporated in New Zealand as a percentage of their average equity. Data has been annualised by multiplying by the number of days in the year/number of days in the quarter.
Interest income to interest-earning assets
Interest income as a percentage of average interest-earning assets. Data has been annualised by multiplying by the number of days in the year/number of days in the quarter.
Interest expense to interest-bearing liabilities
Interest expense as a percentage of average interest-bearing liabilities. Data has been annualised by multiplying by the number of days in the year/number of days in the quarter.
Net interest margin
Net interest income as a percentage of average interest-earning assets. Data has been annualised by multiplying by the number of days in the year/number of days in the quarter.
Other income to total operating income
Other income as a percentage of total operating income.
Other income to total assets
Other income as a percentage of average total assets. Data has been annualised by multiplying by the number of days in the year/number of days in the quarter.
Operating expenses to total operating income
Total operating expenses as a percentage of total operating income.
Operating expenses to total assets
Total operating expenses as a percentage of average total assets. Data has been annualised by multiplying by the number days in the year/number of days in the quarter.
Impaired asset expenses to total operating income
Total impaired assets expenses as a percentage of total operating income.
Interest from housing loans – discontinued
Interest earned from loans secured by residential property (excluding for business purposes). Residential property includes houses, apartments, flats, holiday homes etc. Discontinued in June 2018 when changes were made to the Income statement survey (see background notes for more details).
Interest from other loans – discontinued
Interest received from non-housing loans. Includes credit card loans, unsecured loans, and business loans. Discontinued in June 2018 when changes were made to the Income statement survey (see background notes for more details).
Symbols and conventions for summary table
|Symbol or convention||Definition|
|0||Zero or value rounded to zero|
|Light grey background||Historical|
- Individual figures may not sum to the totals due to rounding
- Percentage changes are calculated on unrounded numbers
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View more data in the Registered Banks series.