ANZ's UDC Finance boosts first half profit 11% ahead of sale to China's HNA

Sophie Boot
Tue, 06 Jun 2017

By Sophie Boot June 6 (BusinessDesk) - ANZ Bank New Zealand's UDC Finance unit lifted first-half profit 11 percent as it prepares for its sale to China's HNA Group,  Net profit rose to $30.2 million in the six months to March 31, from $27.3 million a year earlier. Revenue was flat at $60.4 million, and the company said the profit growth was "driven by low provision charges and lending growth across a range of industries." Full accounts have not been published, with the only details available on a one-page statement. ANZ announced the p...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Finance FREE
Money Answers: what's the best share investing strategy in a recession?
Frances Cook | Sat, 02 Jul 2022

Spreading your money through good quality companies, then leaving it alone for a few years is the boring but most likely way to build wealth for most of us. 

On the Money
On The Money: Air NZ's feeding frenzy, Kerry Prendergast's movie date, and more
Pattrick Smellie | Sat, 02 Jul 2022

In this week's OTM: Greg Foran's preference for pies, Kerry Prendergast's future at the film commission, a blast from the past from Enable Networks, and more...

The Economist
The great Silicon Valley shake-out
The Economist | Sat, 02 Jul 2022

We look at the world’s startups and identify the safe, the uneasy and the doomed.

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.