ANZ profit up, market share down
ANZ National Bank's profit jumped 19% in the December quarter but the bank continued to bleed a small amount of market share in the mortgage market, more than two years after ANZ took over National.
Thursday, March 2nd 2006, 6:59AM
by Jenny Ruth
ANZ took over National in October 2003.
Still, the bank's mortgage book grew $1.26 billion, or 3.27%, to $39.66 billion in the latest quarter and compared to $34.92 billion in December 2004. The overall market grew 3.66% to just under $115 billion in the December quarter.
The bank's net profit for the quarter rose to $274 million compared with $230 million in the December quarter of 2004. Of that increase, $15 million was a payment by National Bank's former owner, Lloyds TSB Group, relating to an adjustment in the purchase price.
« Window of opportunity | Markets ponder bank's upcoming statement on rates » |
Special Offers
Commenting is closed
Printable version | Email to a friend |