Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

ANZ Posts Q1 Underlying Profit Of A$1.48 Bln

RELATED NEWS
Trade ANZ now with 

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.

Click here to receive FREE breaking news email alerts for Australia And New Zealand Banking Group Ltd. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
After moving mostly higher early in the session, stocks have continued to perform well over the course of the trading day on Thursday. The gains on the day have lifted both the Dow and the S&P 500 to new record intraday highs. Firms responding to a survey by the Federal Reserve Bank of Philadelphia indicated continued growth in regional manufacturing activity in September, although the bank said the index of activity in the sector fell from its relatively high reading in August. With new construction of multi-family homes showing a substantial pullback, the Commerce Department released a report on Thursday showing a much steeper than expected drop in U.S. housing starts in the month of August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.