ANZ Bank's UDC unit lifts full-year profit by 11%, matching rise in debentures

Wed, 25 Nov 2015

By Jonathan Underhill Nov. 25 (BusinessDesk) - UDC Finance had an 11 percent gain in full-year profit that the finance company owned by ANZ Bank New Zealand attributed to lending growth, including stronger motor vehicle credit. Profit rose to $57.1 million in the 12 months ended Sept. 30, from $43 million a year earlier, the Auckland-based lender said in a statement. Revenue rose 6 percent to $122 million. The finance company hasn't released its full financial statements for the latest year. In the one-page statement it said debenture...

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