ANZ Bank New Zealand, the nation's biggest lender, recorded a 0.3 percent gain in full-year cash profit, as growth in lending made up for a decline in net interest margin.
Cash profit was $1.69 billion in the year ended September 30, from $1.68 billion a year earlier, the bank said in a statement. Net interest income rose to $2.88 billion from $2.77 billion.
ANZ New Zealand, the local unit of Melbourne-based Australia & New Zealand Banking Group, lifted annual lending by 8 percent, driven by home and business loan growth, leaving it as the biggest mortgage lender in the nation's largest cities.
Figures provided in the parent company's results for the local banking division show net loans and advances in New Zealand rose to $104.8 billion from $96.6.2 million, while deposits and other borrowings rose to $70.7 billion from $63.7 billion.
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