1H24 Financial Results
Balance sheet¹
Lending flat vs 2H23, growth in higher yielding deposits.
Dec 23 vs
Dec 23 vs
$bn
Dec 22
Jun 23
Dec 23
Jun 23
Dec 22
Group lending
Home loans
639.3
652.2
650.5
(0.3%)
1.7%
+1.8%
(0.5%)
Consumer finance
17.0
17.0
17.5
2.6%
3.0%
Business loans²
156.1
164.7
169.2
2.7%
8.4%
930.8
910.5
926.6
Institutional loans
98.1
96.8
89.4
(7.6%)
(8.9%)
Total Group lending
910.5
930.8
926.6
(0.5%)
1.8%
$bn
Non-lending interest earning assets
267.1
272.0
289.3
6.4%
8.3%
Dec 22
Jun 23
Dec 23
Other assets (including held for sale)
Total assets
54.5
49.6
60.1
21.0%
10.2%
1,232.2
1,252.4
1,276.0
1.9%
3.6%
Group deposits
Total interest bearing deposits
719.2
744.8
761.1
2.2%
5.8%
+2.6%
Non-interest bearing trans. deposits
130.5
118.5
110.8
(6.5%)
(15.1%)
+1.0%
Total Group deposits
849.7
863.3
872.0
1.0%
2.6%
849.7
863.3
872.0
Debt issues
118.8
122.3
139.3
13.9%
17.2%
Term funding from central banks
56.0
54.2
36.6
(32.5%)
(34.7%)
$bn
Dec 22
Jun 23
Dec 23
Other interest bearing liabilities (incl. loan capital)
Other liabilities (including held for sale)
Total liabilities
86.6
97.8
102.0
4.4%
17.9%
48.7
43.2
53.3
23.2%
9.3%
1,159.9
1,180.8
1,203.1
1.9%
3.7%
1. Comparative information has been restated to conform to presentation in the current period. Due to rounding, numbers presented in this section may not sum precisely to the totals provided.
2. Business loans growth of +2.7% (vs June 2023) driven by Business Banking growth of +3.9%, and NZ Business and Rural lending growth of +0.2% (excl. FX, NZ Business and Rural lending declined -0.8%).
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