As the central bank hints at a new digital supply, it has decided to improve mortgage growth after a turbulent year.

ANZ released its results for the year to September 30 (October 28), with group cash profits rising 65 percent year-over-year to $ 6.1 billion.

Net loans and growth under Australia’s retail and trade segment fell slightly to $ 341.2 billion a year – but fell in the first half of the year, down $ 1 billion from $ 344 billion. March.

Similarly, mortgages declined in the first half of the year, reaching a total of $ 278 billion at the end of September, despite a $ 3 billion fall, but the total increased by 1 percent last year.

Bank lending growth has been below the system since June with more new loans recorded in the first half of the year (92,000 compared to 87,000 in the second half).

Shen Iliot, CEO of ANZED, said the Australian Property Market Bank had “exceeded” expectations with new loans and new loans.

Going forward, the newly appointed group chief financial officer, Farhan Faruki, described the Bank’s Australian loan portfolio performance as “sustainable priority”.

“Our efforts are focused on creating more sustainable operating capacity and improving review times,” he said. Faruki He said.

“Over the last six months, there has been a 40% improvement in the overall portfolio.

“As a group, I am very clear about what is needed to get back on track in Australian mortgages,” Elliott echoed.

Speaking to the mortgage business, Mr Elliott He said the bank’s manual procedures for assessing loans through the broker channel are under stress. As soon as the application volumes are skipped.

Of the $ 68 billion in new loans (56 percent) this year, half is secured by brokers, which is 57 percent less than the 2020 fiscal year.

Of the total book, 53% are brokers and 47% are live channels – the same volume as FY20.

The bank has responded by investing in automation and increasing the number of employees involved in manual assessments.

ANZ has already told the mortgage business that the bank’s mid-term approach is for the mortgage business, but that it is working on a long-term strategy for the future.

The group’s second priority, as outlined by Eliot, is the release of its digital savings and deposit product ANZ Plus early next year.

ANZ provides its products with a focus on financial security.

The bank expects to expand its supply by later introducing connected digital mortgage products.

Mr Eliot said the ANZ is in the process of building its mortgage offerings before it becomes a pilot in 2022.

“You can’t light a coin. It’s very complicated. ”

“And as we have seen, it takes some time to get there, even if you start with a startup and fintex without any inheritance.”

[Related: CBA provides ‘Australia’s first’ build-to-rent commercial green loan]

ANZ prioritizes mortgage, puts digital production.

Mortgage business

Last updated October 28, 2021

Published on October 29, 2021

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Sarah Simpkins

Sarah Simpsins is a news editor for the mortgage business and consultant.

She has previously reported to Investor Daily and Efa on banking, financial services and asset management.

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