BNZ mortgage market share slips

Bank of New Zealand grew its mortgage book strongly in the June quarter but still lost a smidgeon of its share of the mortgage market and its profit for the quarter was flat.

Wednesday, August 29th 2007, 6:53AM

by Jenny Ruth

The bank was the first to lodge its general disclosure document this quarter and it shows BNZ's third quarter net profit was flat at $178 million, bringing its profit for the nine months ended June to $508 million , up 13.4% on the previous year.

BNZ's mortgage book grew by $675 million to $22.51 billion during the three months although its market share slipped from 16.2% to 16.15%, using Reserve Bank figures as a proxy for the market.

BNZ's mortgage market share has slipped from 16.41% in June last year.

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BNZ mortgage market share slips

Bank of New Zealand grew its mortgage book strongly in the June quarter but still lost a smidgeon of its share of the mortgage market and its profit for the quarter was flat.

Wednesday, August 29th 2007, 6:53AM

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