ANZ reports $2.28b profit as home loan hardship spikes by half

ANZ NZ chief executive Antonia Watson says the number of customers on hardship will start to drop as people roll through to lower interest rates. (Image: ANZ)

John Anthony

Mon, 11 Nov 2024

The number of ANZ customers experiencing financial hardship for their home loans increased by more than half in the past year, chief executive Antonia Watson says.On Friday, ANZ’s New Zealand business posted a $2.28 billion after-tax cash profit for the year to September, up 1%, or $22.9 million, from the year prior.Its Australian parent company, the dual-listed ANZ Group, posted an after-tax profit of A$6.5b (NZ$7.21b) for the year to September, down 8% on the prior year.Watson said banks were impacted by the economies in which they oper...

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 }}