Login
ISCOVER
Challenger Mortgage Management today revealed a net income of $85 million for the six months ending 31 December 2007 – an increase of 18 per cent from the corresponding period last year.
Earnings before tax also rose by 21 per cent to $52 million for the six month period; residential mortgages under management increased by eight per cent to $20.2 billion. Challenger said growth in residential mortgages had slowed due to constrained term funding markets.
Commercial mortgages under management also grew by 11 per cent to $3.1 billion.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Looking for more benefits?
Become a Premium Member.
Challenger said its margins on mortgages had reduced in the current market conditions, but only on new originations. Its outlook for the second part of the year remains positive.
Published: 25-02-08
JOIN THE DISCUSSION