ANZ Bank’s UDC Finance unit lifts FY profit by 31 percent on lending growth

Wed, 12 Dec 2012

Dec. 13 (BusinessDesk) – UDC Finance, the finance company subsidiary of Australia & New Zealand Banking Group, said full-year profit rose 31 percent on increased lending. Profit rose to $37.9 million in the 12 months ended Sept. 30, from $28.9 million a year earlier. Revenue grew 15.3 percent, it said in a statement. UDC’s lending book rose 3.5 percent to over $2 billion and new lending rose 7.5 percent, the company said. Its full results haven’t yet been released to the Companies Office. “These results also reflect new signs of confidence...

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