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ANZ's best quarter since 2007 hard work: Thompson

ANZ Bank's best quarter in the mortgage market since 2007 was the result of a lot of hard work going back several quarters, says retail division managing director Kerri Thompson

Monday, May 28th 2012, 4:05PM 1 Comment

by Jenny Ruth

"It seems to have all come to fruition in a quarter, but it's taken a lot of time and work," Thompson says.

That includes branding and advertising, about 50 policy changes, 30 of them relating directly to mortgages and hiring more mobile mortgage managers.

ANZ now has about 70 mobile mortgage managers, up from about 50 two years ago and another 500 staff across its national branch network about to do home loans, she says.

The bank is also extending its branch network and has just opened a new branch at Takanini in Auckland.

"Customers want to know if they need to eyeball someone they can do so," Thompson says. While many customers these days do internet banking, "even the most affluent and sophisticated customers we have still use the branch at least four times a year.

Applying for home loans is one activity customers either want to do in a branch or with a mobile mortgage manager, she says.

ANZ's March quarter disclosure statement released last week shows its mortgage book grew by $437 million to $51.46 billion in the three months ended March after shrinking by $148 million in the December quarter and shrinking by $162 million in the September quarter.

Based on Reserve Bank figures, it accounted for 32.2% of net new mortgage lending by registered banks in the quarter, the first time it has grown market share since 2007. At the end of March, its market share was 30%.

The disclosure statement showed most of the growth - $299 million or 68.4% of net new lending - was in the 80% to 89% loan-to-valuation ratio (LVR) area and Thompson says most of the growth within that band was on 80% to 85% LVRs.

Thompson says after pulling back to restricting lending to a maximum LVR of 80% in the wake of the GFC, ANZ has spend a lot of time analysing credit performance and it now believes it can better identify high LVR loans which will perform well.

Probably the most important issue is a customer's earning capacity and potential and the stability of their income history, she says.

 

« ANZ has best quarter in mortgage market since 2007An outside chance of an OCR cut this year »

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Comments from our readers

On 29 May 2012 at 9:38 am dave said:
This is the bank whose CEO lambasted higher LVR ratio lending by banks as irresponsible and not a good use of capital - and yet 68% of their lending is going to those with less than 20% deposit, and we all know how they're really grabbing so much business.....
Commenting is closed

 

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 5.44 - - -
AIA - Go Home Loans 7.99 5.99 5.69 5.69
ANZ 7.89 6.59 6.29 6.29
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 5.99 5.69 5.69
ASB Bank 7.89 5.99 5.69 5.69
ASB Better Homes Top Up - - - 1.00
Avanti Finance 8.40 - - -
Basecorp Finance 9.60 - - -
BNZ - Classic - 5.99 5.69 5.69
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.94 - - -
BNZ - Rapid Repay 7.94 - - -
BNZ - Std 7.94 5.99 5.69 5.69
BNZ - TotalMoney 7.94 - - -
CFML 321 Loans 6.20 - - -
CFML Home Loans 6.45 - - -
CFML Prime Loans 8.25 - - -
CFML Standard Loans 9.20 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 5.79 - -
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Owner Occ 7.65 5.99 5.75 5.69
Co-operative Bank - Standard 7.65 6.49 6.25 6.19
Credit Union Auckland 7.70 - - -
First Credit Union Special - 6.40 6.10 -
First Credit Union Standard 8.50 7.00 6.70 -
Heartland Bank - Online 7.49 ▼5.65 ▼5.55 ▼5.55
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.00 6.50 -
ICBC 7.49 5.99 5.65 5.59
Kainga Ora 8.39 7.05 6.59 6.49
Kainga Ora - First Home Buyer Special - - - -
Lender Flt 1yr 2yr 3yr
Kiwibank 7.75 6.89 6.59 6.49
Kiwibank - Offset 8.25 - - -
Kiwibank Special 7.75 5.99 5.69 5.69
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 8.44 ▼6.39 ▼6.09 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
SBS Bank 7.99 6.95 6.29 6.29
SBS Bank Special - ▼6.15 5.69 5.69
SBS Construction lending for FHB - - - -
Lender Flt 1yr 2yr 3yr
SBS FirstHome Combo 5.44 ▼5.15 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.75 - - -
TSB Bank 8.69 6.79 6.49 6.49
TSB Special 7.89 5.99 5.69 5.69
Unity ▼7.64 5.99 5.69 -
Unity First Home Buyer special - 5.49 - -
Wairarapa Building Society 8.50 ▼6.19 ▼5.79 -
Westpac 8.39 6.89 6.39 6.39
Westpac Choices Everyday 8.49 - - -
Westpac Offset 8.39 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 6.29 5.79 5.79
Median 7.99 6.17 5.79 5.69

Last updated: 30 October 2024 9:36am

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