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...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

‘Uncertainty abounds’: Willis on trade war challenges

The impacts for NZ are twofold and will make its economic recovery harder, Willis says.

Rebecca Howard 4:40pm

Infrastructure

Billions needed for Northwest Busway

The rolling maul of transport-related announcements continues.

Oliver Lewis 3:40pm

Markets

Transpower cautious over hydro lake level rule changes

Transpower can authorise hydro lakes to dip further.

Ian Llewellyn 1:15pm

Transpower cautious over hydro lake level rule changes

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Finance

Finance

PEP seeking payday from UP Education

UP Education is a NZ success story in Australia.

Pattrick Smellie 5:00am

Finance

FNZ extends controversial catch-up offer

Fintech FNZ has extended its deadline for “catch-up” equity offers, as employee shareholders say discontent grows.In March, the global fintech offered its class B shareholders a “catch-up” offer after it revealed their holdings could be massively diluted following its August capi...

Victoria Young 16 Apr 2025