ANZ hits targets in NZ

ANZ’s New Zealand arm has posted an impressive lift in cash profit for fiscal 2014, hitting a number of targets, and remains confident of further growth in the future.

"Next year if the economy holds up I think we could see another good set of numbers for top-line growth."

Speaking to BlueNotes on video, ANZ’s New Zealand CEO David Hisco, the past 12 months had been a good year for the bank. 

“We hit a lot of the targets that we were aiming at,” he said. “We grew market share across the country in a number of products. All in all it was a very good year for us.” 

“Next year if the economy holds up I think we could see another good set of numbers for top line growth.” 

ANZ’s NZ arm posted a cash profit of $1.68 billion, up 17 per cent on the previous corresponding period. That result includes a one-off charge related to insurance recovery. 

The group’s statutory profit rose to $1.71 billion. 

Hisco also touched on the bank’s strategy and ANZ’s plans over the next four years. Watch the above video to find out more.