Bank profits are up, with the country's biggest bank taking home serious returns this financial year.

The net profit of ANZ's New Zealand arm has risen 20 percent for the year to September, to almost 2.3 billion dollars.

ANZ speculates that's due to post-pandemic economic activity.

Economist Cameron Bagrie says more record-high profit margins could be on their way.

He says across 27 banks, there's a real chance for an eye-watering ten-million dollar profit to hit this year.

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