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
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
RELATED NEWS
Trade ANZ now with 
Follow RTT