BNZ ekes out gains in market share as 1H deposits and loans lift

BNZ chief executive Dan Huggins pleased to have gained customers. (Image: BNZ)

Fri, 03 May 2024

Bank of New Zealand’s net profit fell 5.3% in the first half, but it gained market share despite intense competition. Figures published by parent National Australia Bank (NAB) show its share of housing lending was 16.7% as at March 31, up from 16.5% in the same period a year earlier. Total deposits were 18.1% versus 17.7%. BNZ’s total lending increased 3.2% over the previous year's first half to $104.2 billion, while deposits lifted 3.7% to $81.8b.On the year, home lending lifted 4.3% to $58.8b, wh...

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