When the highlight of your profit result is that ‘our processing times are comparable to our major peers’, it is easy to understand why ANZ (along with Westpac) is the laggard of Australia’s major banks. It is like that after almost 100 years of being in business, ANZ has just discovered what a home loan is!
And they were also celebrating that they managed to grow their home loan book from $278bn to $278.4bn – yes, net growth of $400 million over the six months!
Yesterday, ANZ delivered an underwhelming first-half cash profit of $3.11bn.
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