Mortgage News

ANZ bad loan charges soar; underlying profit rises

Tuesday 1st of September 2009

The local branch and subsidiary, ANZ National Bank, combined saw net profit for the three months ended June plunge 75% to $56 million, the branch's latest general disclosure statement shows.

However, that reflected a $244 million increase in its charges against profit for bad loans in the three months. Net interest income for the quarter was actually up 15.8% to $579 million.

That...

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