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ANZ posts half year cash profit of $941 mill

ANZ today announced its 2018 half year results, with ANZ New Zealand delivering a statutory profit of $964 million, up 11% on the corresponding half in the 2017 financial year, and a cash profit of $941 million, up 1% from the prior comparable period.

Tuesday, May 1st 2018, 11:30AM

ANZ New Zealand Chief Executive Officer David Hisco said the bank is delivering consistent performance through a focus on outstanding customer experience and sustainable growth.

“ANZ has grown in home lending and deposits, which reflects the continuing strength of the New Zealand housing market and of the economy generally,” Hisco said.

“Major infrastructure and building projects across the country are providing jobs and fuelling consumer spending and saving, and will do so for the foreseeable future.”

He said ANZ New Zealand has invested in digital capabilities to deliver a better, more secure bank and build functionality for its customers.

“Our investment in digital also means we are achieving greater operational efficiencies, as well as savings in our back office processes,” Hisco said.

“We have shared this success with our customers, eliminating fees on ATM transactions and reducing fees on other banking products, while strengthening our competitiveness and value for money.”

He said ANZ New Zealand remained the number one in brand consideration for local banks and continued to grow its customer base.

ANZ New Zealand’s revenue increased 3% to $2.11 billion comprising net interest income of $1.57 billion, up 2%, and other operating income of $535 million, up 4%.

 

Net interest margins increased slightly in the first half of FY18 due to stabilising funding costs and repricing of home loans.

Tags: ANZ

« Mortgage borrowing rise to be “short-lived”: WestpacAdvisers account for bigger share of ANZ's home loans »

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Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.55 4.79 4.99
ANZ Special - 4.05 4.29 4.49
ASB Bank 5.80 4.44 4.69 4.89
ASB Bank Special - 3.95 4.29 4.49
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.10 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
Lender Flt 1yr 2yr 3yr
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.70 4.85 -
Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.79 - -
HSBC Special - - - -
Lender Flt 1yr 2yr 3yr
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.55 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.05 4.29 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 3.95 4.49
Sovereign 5.90 4.45 4.69 4.89
Sovereign Special - 3.95 4.29 4.49
The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
The Co-operative Bank - Standard 5.75 4.60 4.85 4.99
TSB Bank 5.80 4.45 4.69 4.99
TSB Special - 3.95 4.19 4.49
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.69 4.79 5.19
Westpac - Offset 5.95 - - -
Westpac Special - 4.15 4.29 4.59
Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

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