ANZ Profit Up 14% as Brokers Drive 69% of New Home Loans

ANZ's half-year results show brokers writing 69% of new home loans, up from 67%, while the bank's direct sales push hasn't yet dented broker channel share.

Brokers Write 69% of ANZ's New Home Loans — Up for the Second Year Running

MPA Australia reports that ANZ's first-half financial results show mortgage brokers writing 69% of all new home loans originated in the period — up from 67% in the first half of the previous financial year. Direct or proprietary lending through ANZ's own branches and bankers accounted for the remaining 31%, down from 33%.

The numbers arrive against a backdrop of deliberate strategic investment in the direct channel. ANZ chief executive Nuno Matos has placed growing the bank's in-branch mortgage sales force at the centre of his '2030 Strategy', with plans to increase the number of in-branch lenders by up to 50% or more over the next five years. The bank is also actively training its direct-to-customer mortgage team.

Yet despite that investment, broker share at ANZ has continued to climb. Broker-introduced loans as a share of ANZ's total home lending portfolio rose from 58% in the prior year to 62% as of 31 March 2026 — a four percentage point shift in twelve months.

ANZ's total home lending portfolio stood at $348 billion as at 31 March, having grown 3.6% — or $12 billion — on a year-on-year basis.

What the Half-Year Numbers Tell Borrowers

ANZ's financial results were broadly positive. Group-wide cash profit was up 14% on the previous half, reflecting cost discipline: of the 3,500 headcount reductions announced in 2025, 78% have now left the business. The group's net interest margin — the difference between what the bank earns on loans and pays on deposits — fell three basis points to 1.56%, a modest compression that reflects increased mortgage market competition squeezing pricing.

Impairment trends remained steady over the period. This is a meaningful signal: it means that even as the RBA has raised rates twice in 2026 and borrower repayments have risen, the share of loans turning sour at ANZ has not increased. The system as a whole is under pressure, but it is not showing signs of serious stress.

ANZ's regional subsidiary Suncorp Bank grew its home lending portfolio by 5% to $62 billion over the same period. Group-wide business lending flows increased by 2% to $68 billion.

Matos said the bank has "moved at pace to make good progress on our five immediate priorities," including commencing a cultural reset, accelerating the integration of Suncorp Bank, and reducing duplication across the group. "These actions, combined with our initial investment for growth, are laying solid foundations for the second phase of our strategy, which will significantly improve our customers' experience and revenue growth," he said.

What Rising Broker Share Means for You

The fact that broker channel share at ANZ is rising — even as the bank actively invests to grow its direct channel — tells you something useful about how the Australian mortgage market currently works.

In a competitive lending environment, borrowers who engage a broker get access to multiple lenders simultaneously. That comparison matters most in a market where different lenders price the same borrower profile differently. Right now, with the RBA having raised rates twice in 2026 and a third rise expected, lenders are actively competing for new loan volumes to offset the pressure that rising rates put on demand. ANZ's portfolio grew $12 billion year-on-year in a rising-rate environment — that is not a lender sitting still.

When lenders compete this aggressively for new business, the pricing and conditions available to borrowers tend to be more favourable than in a flat market. But you only access that competition by knowing what's available — and a rate that was competitive when you first took it out may not still be the best available today.

For anyone with an ANZ home loan who hasn't reviewed their rate since the RBA's rate-cutting cycle ended in early 2026, it is worth checking whether a better option exists. Use our [refinance savings calculator](/calculators/refinance-savings) to get a quick read on whether switching would make a material difference to your repayments.

If you're shopping for a new home loan and want to compare what ANZ and other lenders are currently offering, our [home loan comparison tool](/home-loans/cheapest) lets you do that in one place.

The stability in ANZ's impairment data is a reassuring backdrop. Most Australian borrowers are managing the rate hikes of 2026 without falling behind. But the averages being stable does not mean every individual borrower is on the most competitive rate available to them. A regular rate review — at least once a year — remains the most straightforward thing borrowers can do to stay on top of a market that keeps moving.

[MPA Australia](https://www.mpamag.com/au/mortgage-industry/market-updates/broker-share-climbs-at-anz/573675) has the full ANZ half-year results breakdown.