Finance

ANZ laments high house prices amid record lending and profits

Jenny Ruth
Thu, 28 Oct 2021

ANZ laments high house prices amid record lending and profits

ANZ NZ chief executive Antonia Watson says house prices are unsustainable. (Image: Getty)

Jenny Ruth
Thu, 28 Oct 2021

ANZ Bank New Zealand lifted annual net profit 44% after writing back previous covid-related charges for bad debts and lending a record amount on mortgages.The bank's net profit for the year ended September rose to $1.92 billion from $1.34b the previous year, writing back $115 million of previous bad-debt charges compared with a $401m charge last year.Home lending increased by $9.3b to $99b, up from the $5.1b it lent on mortgages the previous year, but lending to businesses and farmers fell.And ANZ also fattened its profit margin by 20 basis...

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ANZ laments high house prices amid record lending and profits

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