Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

ANZ National performs well in first nine months

Media Release
For Release: 30 August 2006

ANZ National performs well in first nine months

ANZ National Bank today announced a profit of NZ$803 million for the nine months ended 30 June 2006*, up 18% on the June 2005 result.

Adjusting for the impact of adopting IFRS, which is not reflected in the June 2005 result, and certain other items, underlying profit after tax increased by 10% over the same period.

ANZ National Bank Chief Executive Officer Mr Graham Hodges said: “This is a solid result based on a quality balance sheet and good revenue growth in a very competitive environment.

“Integration has been completed and we have a clear strategy around our two brands.

We are now accelerating the next stage of our transformation by focusing on market leadership and growth. We are the leader in all segments and our scale and multiple brands are unique and give us the ability to reshape our approach by being more innovative and responsive to customer needs.

“Our solid financial performance means we are in good shape to build on our performance by reinvesting for future growth. We have already taken some early steps in this direction with the introduction of new products such as our low rate credit card, the ANZ Everyday Transaction account and expanding our ATM network,” Mr Hodges said.

June Nine Month Performance Summary • Profit after tax of NZ$803 million, an 18% increase over the June 2005 period ($678 million).

• Underlying profit after tax of $768 million, a 10% increase over the June 2005 period ($699 million). Refer Appendix for an outline of the “Underlying” calculations.

• Total Revenue increased 9% compared to June 2005.

• Cost-to-income ratio decreased to 45.9% compared to 46.9% in the June 2005 period.

• Net loans and advances were up NZ$10,099 million (15% for the period, 20% annualised) on the June 2005 position. Total customer deposits were up NZ$5,767 million (13% for the period, 17% annualised) on the June 2005 position.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>

ALSO: