ANZ New Zealand boosts FY profit 17% on home loan growth

Thu, 30 Oct 2014

By Paul McBeth Oct. 31 (BusinessDesk) - ANZ New Zealand boosted annual earnings 17 percent as the local unit of Australia & New Zealand Banking Group benefited from home loan lending growth and bedded down savings from the integration of the National Bank brand. Cash profit, which strips out movements in the value of financial instruments, rose to $1.68 billion in the 12 months ended Sept. 30, from $1.43 billion a year earlier, the Auckland-based lender said in a statement. Statutory net profit climbed 25 percent to $1.71 billion. Operati...

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