Adviser's share of BNZ's new lending dipped in latest six months

BNZ's first-half results showed that advisers accounted for 46.8% of new lending in the six months, down from 48.1% in the six months ended September but up on the previous first-half's 43.8%.

Advisers accounted for 36.3% of BNZ's home loans at March 31, up from 34.8% at Sept 30 last year and from 30.7% in September 2022.

The percentage of interest-only mortgages rose to 18% of the portfolio, up from 17.7% at Sept 30 last year and from 17.5% at March 31 last year.

Mortgages that were 90-days past due rose to 0.24% of the portfolio from 0.17% at Sept 30 and 0.16% at March 31 last year while impaired mortgages rose to 0.09% from 0.02% at Sept 30 last year.