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BNZ expects slowing housing market as profit jumps 74%

While its mortgage book grew 15%, business lending was flat.

Maria Slade Tue, 09 Nov 2021

BNZ Banking Group has reported a 74% rise in statutory net profit to $1.32 billion for the year, on the back of escalating house prices and a better-than-expected New Zealand economy.

While its overall lending grew 7.5% in the period, the standout sector was housing.

The BNZ’s home lending

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BNZ expects slowing housing market as profit jumps 74%
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