The country's largest bank has increased its cash profit, despite falling interest margins

ANZ New Zealand's cash profit rose to 1.15 billion dollars in the six months to March.

That's stable on the previous six months, and up four percent on the same period the previous year.

Chief Executive Antonia Watson says it's a solid result reflecting "resilience" across the economy, despite economic headwinds like rising unemployment.

Statutory profit, which includes gains and losses from economic hedges, is down eight-percent over the period.