By Phil Boeyen, ShareChat Business News Editor
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Tuesday 13th February 2001 |
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The bank, which is a subsidiary of Australia's Commonwealth Bank, recorded a tax-paid profit of $89.4 million for the six months to the end of December.
Chairman Gary Judd says the strong growth is not attributable to any one particular aspect of our business.
"We improved market share in our core areas of corporate, treasury, business, rural and personal banking and also improved our share of the market in cities and provincial centres where historically we have not previously been well represented.
"There was also ready acceptance of our new financial services, such as funds management and securities trading. On top of that we held operating costs across the bank."
Operating income for was $309 million, up 16% on the same period last year.
New home lending approvals fell 3% to $1.28 billion, although the bank notes that the housing market was subdued nationally with sales dropping to ten-year lows. Business lending and rural lending continued to grow.
Total assets at 31 December 2000 stood at $18.5 billion, up 11% on 1999.
Than bank's Australian parent, CBA, has reported an interim net profit of A$1.135 billion compared to $840 million the year before.
CBA says on a proforma basis, including results from its purchase of Colonial, the group profit was A$1.051 billion, a rise of 8%.
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