ANZ New Zealand chief executive David Hisco talks about the bank's latest results, the role mortgage brokers play in the business and what he thinks of new competition and remuneration models for advisers
ANZ has seen growth in its business however it’s seen an 11% decline in cash profit in the six month period to March 31.
Cash profit, which measures earnings less non –core items, fell in the period from $841 million to $751 million.
However, lending was up 8% and customer deposits grew by 12%.
The main drivers of the result were a change to accounting policies which resulted in a charge of $87 million...MORE»
Tuesday, May 3rd, 1:04PM
Half year profits are down at New Zealand’s biggest bank, ANZ revealed today.MORE»
Tuesday, May 3rd, 5:00AM
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Westpac has reported a record half-year profit despite increasing competitive pressure on its loan book.MORE»
The review of the Financial Advisers Act is likely to have a significant impact on mortgage advisers, however it appears none of the broker groups made a submission on the Options Paper. The PAA though, argues that all advisers should be authorised.MORE»
Leaving the OCR on hold today was the right decision, but there will be further cuts down the track, economists say.MORE»
The Reserve Bank today left the Official Cash Rate unchanged at 2.25%.MORE»
More evidence of the surging strength of the housing market comes in new data showing mortgage lending, including to investors, is up across the board.MORE»