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...

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