ANZ’s NZ first-half profit climbs 18% on home loan growth

ANZ kicks off the current round of bank earnings (Image: supplied)

Wed, 04 May 2022

ANZ Bank New Zealand lifted first-half net profit 18%, reflecting ongoing growth in housing loans.The bank's net profit for the six months ended March 31 rose to $1.1 billion from $930 million in the same six months a year earlier.Housing loans now account for 70% of ANZ's balance sheet, up from 64% two years ago.The bank's Australian parent lifted net profit 10% to A$3.53b.Chief executive Antonia Watson said the NZ housing market remains strong despite recent headwinds, including rising interest rates."The business has success...

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