logo
Share SHARE
FONT-SIZE Plus   Neg

ANZ Posts Q1 Underlying Profit Of A$1.48 Bln

Australia And New Zealand Banking Group Ltd. (ANZ: Quote,ANZBY.PK,ANZ.AX) reported first quarter statutory profit after tax of A$1.7 billion. Adjusting for non-core items, unaudited underlying profit for the first quarter was A$1.48 billion, up from last year.

"There will not be a return to the level of credit growth that banks experienced pre-crisis for the foreseeable future, particularly in our major domestic markets in Australia and in New Zealand", said ANZ Chief Executive Officer Mike Smith.

"It's important to reflect that our customers, our staff and the broader community benefit from safe, well-run commercial banks - banks that also generate profits that underpin investor and superannuation returns and that can be re-invested to expand lending," he stated.

ANZ said that it has to continue adapting its business model to changes in the banking environment, particularly across its retail and wealth management operations. The company continued focus delivery of super regional strategy.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Gas explosion in Fresno in California injured 11 people on Friday afternoon. Pacific Gas and Electric Co. (PG&E) said workers who are not affiliated with the company have struck a 12-inch natural gas transmission pipeline and the gas leaked was ignited due to the dig-in. Verizon Communications' FiOS TV service has modified its programming bundles and will now offer new packages so that users can subscribe only for channels they prefer to watch. Instagram, the photo sharing app owned by Facebook, has updated its community guidelines to disallow nudity and harassment in uploaded photos and pictures, as well as cyber bullying.
comments powered by Disqus
RELATED NEWS
Trade ANZ now with 
Follow RTT