A Bank’s Big Half‑Year Upswing

The biggest bank in Australia has reported a strong first half of the year, with lending to homes and businesses growing faster than the rest of the market. Home loans increased by 3. 7 % and business loans jumped 6. 0 %, outpacing overall system growth on both fronts. Deposits from households also climbed 7. 5 %, beating the average.The bank’s net interest margin, which shows how much it earns on loans compared to what it pays on deposits, slipped a little – down 4 basis points to 2. 04 %. Even so, the overall cash profit after tax rose to A$5. 45 billion for the six months ending December 31, up from A$5. 13 billion a year earlier. Analysts had expected about A$5. 19 billion, so the result was better than forecast. As a reward for shareholders, the bank announced an interim dividend of A$2. 35 per share, up from last year’s A$2. 25. This performance shows the bank’s ability to grow lending and attract deposits, even as it manages its margins.