ANZ laments high house prices amid record lending and profits

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
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...

More Finance

ANZ admits 'unacceptable failure' as bond probe continues
Finance

ANZ admits 'unacceptable failure' as bond probe continues

Regulator is investigating the bank over its bond turnover data.

AAP 25 Jul 2024
ComCom will try to bring down PayWave, credit card surcharges
Finance

ComCom will try to bring down PayWave, credit card surcharges

Card industry tried to regulate itself, Govt has tried, now it is ComCom's turn.

Staff reporters 23 Jul 2024
Massive cyber outage cripples banks and other organisations worldwide
Finance

Massive cyber outage cripples banks and other organisations worldwide

A major cybersecurity outage has taken out computer-reliant services

Dileepa Fonseka 19 Jul 2024