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 - 05/22
32.05 AUD   -0.53%
05/21 AUSTRALIA AND N : ANZ to issue its first green bond
05/21 AUSTRALIA AND N : Change of Director's Interest Notice
05/20 AUSTRALIA AND N : Peter Chan appointed CEO Philippines
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
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
05/23 AUSTRALIA AND NEW ZEALAND BANKING : Australian banking giant gains approval to o..
05/21 AUSTRALIA AND NEW ZEALAND BANKING : ANZ to issue its first green bond
05/21 AUSTRALIA AND NEW ZEALAND BANKING : Change of Director's Interest Notice
05/21 AUSTRALIA AND NEW ZEALAND BANKING : ANZ appoints new Philippines CEO
05/20 AUSTRALIA AND NEW ZEALAND BANKING : Peter Chan appointed CEO Philippines
05/19 AUSTRALIA AND NEW ZEALAND BANKING : Beef seen declining by ANZ as Australia defi..
05/19 AUSTRALIA AND NEW ZEALAND BANKING : Beef seen declining by ANZ as Australia defi..
05/17 AUSTRALIA AND NEW ZEALAND BANKING : ANZ launches $3 billion Trade Lending Pledge..
05/11 AUSTRALIA AND NEW ZEALAND BANKING : ANZ launches new brand campaign
05/09 AUSTRALIA AND NEW ZEALAND BANKING : National Australia Bank : plans to raise $4...
Advertisement
Chart
Duration : Period :
Australia and New Zealand  Technical Analysis Chart | ANZ | AU000000ANZ3 | 4-Traders
Income Statement Evolution
More Financials