Mortgage lender ME Bank has announced a new record high in home loan settlements, as the midpoint of its financial year reaches a spike in sales by 41% to $40.2bn.
 
ME Bank said its after-tax underlying net profit is at $29.1m for the six months to December 2014, a jump of 14% on the previous corresponding period.
 
Meanwhile, statutory net profit for the half year was at $40.2m, a dramatic rise from $25.9m for the half-year ended December 2013.
 
Chief executive Jamie McPhee claimed the company "settled the highest amount of home loans in ME Bank’s history," with $432m for the six months to December 2014.
                                           
The lender managed to increase its sales thanks to brokers, who were responsible for $1.1bn worth of home loan settlements for the half-year, up from $400m last year.
 
ME Bank is targeting its annual mortgage settlements to reach $8bn by 2020.
 

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