Umm, the HY report I read doesn't support your statement of no growth. It showed growth across almost all areas:
households +15%
personal +36%
vehicles + 15%
NZ reverse mortgages + 12%
business + 14%
rural + 17%
Australia +27%
Yes EPS was flat but I think its only fair to give them some time to get all the new capital working for us. I'm happy holding this stock although I have a lot less of it than I used to.