By Gareth Vaughan
HSBC grew its home loan book by 12% in the June quarter which the bank attributes to a "very successful", competitively priced mortgage campaign. However, the bank's quarterly profit fell 2%.
HSBC's latest General Disclosure Statement shows its residential mortgages up by $106 million, or 12%, in the three months to June 30 to $999.2 million.
Asked what was behind the strong growth, an HSBC spokesman told interest.co.nz: "HSBC ran a very successful mortgage campaign March-May 2013 with market-leading (at the time) 4.99% interest rates for one, two and three year mortgages, which drove the significant increase in our residential mortgage book."
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