ANZ lessened reliance on advisers in year ended Sept

However, total home loans originated by advisers in the year ended September fell to 59% from 61%, according to its parent bank’s slides.

Nevertheless, advisers accounted for 53% of ANZ’s mortgage portfolio at Sept 30, up from 52% a year earlier and 50% in September 2023.

The bank’s brand general disclosure statement, which covers all NZ activity, showed the bank’s net new mortgage lending accelerated to $2.6 billion in the six months ended September from $2.28 billion in the six months ended March, taking total net new lending for the year to $4.88 billion, up from $3.68 billion the previous year.

The bank’s statutory net profit for the year ended Sept 30 rose to $2.58 billion from $2.13 billion the previous year but its parent’s net profit fell 10% to A$5.89 billion.