28 February 2003 12:00am

Wollongong-based bank IMB reported a lower net profit in the last six months, the result of poor home loan sales over the period, and the resolution of a long standing tax dispute.

• pre tax profit increased four per cent to $7.2 million in December 2002, up from $6.9 million in June 2002.

• net profit fell 27 per cent to $3.8 million in December from $5.1 million in June.

• home loan approvals fell a quarter, to $355 million in the December half from $465 million in the June half.

• loans under management, though,...