ANZ National Bank increase market share

ANZ National Bank has reported a sharply higher third quarter net profit and increased its market share of the mortgage market marginally for a second consecutive quarter.

Thursday, September 21st 2006, 6:36AM

by Jenny Ruth

Net profit for the three months ended June jumped 33.5% to $283 million, bringing its nine month result to $803 million, up 18.4% on the same nine months a year earlier.

The bank’s net interest income was up 16.8% to $549 million in the quarter while operating expenses fell 2% to $324 million.

Its mortgage book grew $1.33 billion, or 3.2%, to $42.4 billion. Using the Reserve Bank’s figures as a proxy for the market, ANZ National now has 34.72% of mortgages held by registered banks, up from 34.68% at the end of March and 34.49% at the end of December.

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ANZ National Bank increase market share

ANZ National Bank has reported a sharply higher third quarter net profit and increased its market share of the mortgage market marginally for a second consecutive quarter.

Thursday, September 21st 2006, 6:36AM

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