UPDATE: ANZ's UDC finance unit posts record profit despite interest margin fall

Thu, 08 Dec 2016

UPDATE: includes revenue figure provided by ANZ in second line) By Edwin Mitson Dec. 8 (BusinessDesk) - ANZ Bank New Zealand's UDC finance unit has posted a record annual profit, driven by booming car sales and strong growth in forestry, transport and construction. Net profit rose 3 percent to $58.5 million in the year to Sept. 30, though ANZ said revenue was hit by a fall in the interest margin it could achieve, dropping 1 percent to $120.5 million from $122 million. Full accounts have not been published, with the only details availa...

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