Member access

4-Traders Homepage  >  Shares  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Australia and New Zealand Banking Group    ANZ   AU000000ANZ3

End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 01/30
33 AUD   +0.15%
01/29DJAMMB Holdings Says Ashok Ramamurthy to Step Down as Group Managin..
01/28 Wanted - Asia-focused banker for StanChart's top spot
01/20 AUSTRALIA AND N : ANZ appoints Sean Birchley Head of International a..
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

ANZ Bank Cuts Standard Variable Home Loan Rate By 37 BPS

05/11/2012 | 01:23am US/Eastern

Australia and New Zealand Banking Group Ltd. (>> Australia and New Zealand Banking Group) Friday became the last of the nation's big four banks to pass on part of the Reserve Bank of Australia's 50 basis point cut last week.

ANZ said it will cut its standard variable home loan rate by 37 basis points to 7.05% from May 18. That's the equivalent of A$20 a week in interest repayments on an average A$280,000 mortgage, the bank said in a statement.

"We continue to work hard to ensure we are competitive despite sustained funding pressure driven by the high rates we are paying to our 2.9 million deposit customers," said ANZ's Australia chief executive Philip Chronican.

Commonwealth Bank of Australia (>> Commonwealth Bank of Australia), the nation's largest home lender, last week reduced the interest rate on its range of variable home loans by 40 basis points to 7.01% a year. National Australia Bank Ltd. (>> National Australia Bank Ltd.) cut its headline mortgage rate by 32 basis points to 6.99%--the lowest of the big four banks. Westpac Banking Corp. (>> Westpac Banking Corporation) reduced its headline rate by 37 basis points to 7.09%.

The central bank cut its cash rate by 50 basis points to 3.75% on May 1.

-By Caroline Henshaw, Dow Jones Newswires; 61-2-8272-4689; caroline.henshaw@dowjones.com

React to this article
Latest news on AUSTRALIA AND NEW ZEALAND
01/29DJAMMB Holdings Says Ashok Ramamurthy to Step Down as Group Managing Director
01/28 Wanted - Asia-focused banker for StanChart's top spot
01/21 AUSTRALIA AND NEW ZEALAND BANKING : ANZ names Sean Birchley to head int'l, insti..
01/21 AUSTRALIA AND NEW ZEALAND BANKING : ANZ names Sean Birchley to head int'l, insti..
01/20 AUSTRALIA AND NEW ZEALAND BANKING : ANZ appoints Sean Birchley Head of Internati..
01/20 AUSTRALIA AND NEW ZEALAND BANKING : ANZ cuts 2014/15 Fonterra payout forecast to..
01/19DJANZ Set for Sale of Vehicle Finance Unit - Report
01/15 AUSTRALIA AND NEW ZEALAND BANKING : Dollar and gold the main winners as Swiss Na..
01/15 AUSTRALIA AND NEW ZEALAND BANKING : ANZ appoints Carole Berndt as Managing Direc..
01/15DJOil Prices Turn Lower
Advertisement
Chart
Duration : Period :
Australia and New Zealand  Technical Analysis Chart | ANZ | AU000000ANZ3 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF