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ANZ NZ tells Australian analysts of market share gains, plans to use its size advantage

Business
ANZ NZ tells Australian analysts of market share gains, plans to use its size advantage

ANZ New Zealand says it grew mortgage, deposit, commercial lending and credit card market share in the period from September last year to July this year.

This is outlined in a New Zealand investor update ANZ NZ CEO David Hisco is providing in meetings with banking analysts in Australia this week.

The bank says its mortgage market share rose 22 basis points to 30.7% between September 2013 and July 2014, its deposit market share increased 29 basis points to 28.7%, its commercial lending market share surged 120 basis points to 30.7%, and its credit cards market share gained 68 basis points to 28.8%.

Hisco's presentation also highlights that ANZ NZ supplied 23% of the ANZ group's first half-year cash net profit after tax, more than the much heralded Asia, Pacific, Europe and America unit's 19%.

After "creating scale" between 2010 and 2013 including by merging the ANZ and National Bank brands, the presentation notes ANZ NZ is now "leveraging scale" between 2013 and 2016, including by rolling out a customer data focused sales strategy. It then aims to have "scale advantage" from 2017, and look to bolster its digital offering to improve customer experience and banker efficiency.

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