ANZ still wary of inflation, employment as arrears lift

CEO Antonia Watson is pleased with how customers are managing. (Image: Getty)

Tue, 14 Nov 2023

ANZ Bank New Zealand is still wary of resurgent inflation and job losses putting pressure on its borrowers, who are so far managing their way through the higher interest rate environment. The country’s biggest lender grew its mortgage loan book by 3% to $104.87 billion in the 12 months ended Sept 30 and increased its home loan accounts to 545,000 from 538,000, helping maintain its market share at 30.4%. ANZ’s NZ residential impairment charges increased to $235 million as at Sept 30 from $186m a year earlier, while res...

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