ASB made up for lost time with $2.28b net new mortgages in 1H

ASB Bank looks to be making up for lost time in the mortgage market with its home loan book swelling by $2.28 billion in the six months ended Dec 31.

In the same six months a year earlier, ASB’s mortgage book actually shrank by $518 million, although it managed to report positive growth for the year ended June, 2024 of $488 million.

Between Dec 31, 2023 and Dec 31, 2024, the book grew by $3.28 billion to $78.79 billion.

Chief executive Vittoria Shortt has previously admitted that her bank had lost ground with mortgage advisers in 2023 because of its uncompetitive pricing.