
Mortgage News
LVR restrictions a significant change: ASB
Wednesday 14th of August 2013
ASB has announced a record net profit after tax (NPAT) of $705 million for the year ended June 30. The cash NPAT was $699 million, 12% up on the previous year.
ASB grew lending in the year to June by $4.724 billion, or 9%, to $57.726 billion, and deposits by $2.314 billion, or 6%, to $41.289 billion.
Profit was boosted by an interest rate margin lift from 2.16% to 2.25%.
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