BNZ increases market share

BNZ's latest general disclosure document (GDS) shows its mortgage book grew to $21.83 billion at March 31 from $20.97 billion in December, lifting its share of mortgages written by registered banks to 16.2% from 16.15% in December, although that was still down from its 16.35% share in March last year.

BNZ's net profit for the latest quarter rose 9.9% to $144 million bringing its first-half result to $330 million, up 22.2% on the previous first half.

Taranaki-based TSB's mortgage book rose to $1.7 billion at March 31 from $1.61 billion in December, lifting its market share to 1.26% from 1.24% in December, although that was down from 1.3% in March 2006.

TSB's net profit rose 11.4% to $8.15 million for the latest quarter, lifting its annual result to $34.86 million, up 11.3% on the previous year.

HSBC's declared mortgage book fell to $2.23 billion at March 31 from $2.32 billion in December. That puts its market share at 1.65% from 1.79% in December and 1.79% in March 2006. HSBC has had a number of accounting issues which have been distorting the reporting of its mortgage book for several years.

HSBC's net profit for the quarter rose 18.2% to $9.1 million.