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
Fox News pundit Bill O'Reilly remains under fire amid accusations that he trumped up his role in covering international events. Only weeks after a Mother Jones article raised doubts about his claims that he was in the "warzone" during the Falklands War, the Washington Post noticed that O'Reilly once... PayPal, the online payment unit of Ebay, said it has agreed to buy mobile payment company Paydiant as part of efforts to expand its mobile offerings for merchants. The deal comes at a time when the mobile payment space is suffused with prominent players like Apple and Google, with retailers seeking their own mobile payment applications. Google plans to launch a limited-scale U.S. wireless service, which while not taking on the big players in the industry, would nonetheless incorporate technical innovations that could be absorbed the carriers. This was announced by Sundar Pichai, a top Google executive, at the ongoing World Mobile Congress in Barcelona.
comments powered by Disqus
RELATED NEWS
Trade ANZ now with 
Follow RTT