ASB's mortgage book returned to growth in the 2nd half

It's mortgage book stood at $76.51 billion at June 30, up just $488 million from a year earlier.

Chief executive Vittoria Shortt said most home loan customers are now on interest rates above 6%, although about 20% of customers are yet to roll off rates below this.

“The majority of our borrowers are managing in the current environment, although there is no question this is a challenging time for a lot of New Zealanders,” Shortt said.

ASB has reached out to more than 40,000 customers in the past year as they refixed their mortgages, she said.