Australia And New Zealand Banking Group Ltd. (ANZ: Quote,ANZBY.PK,ANZ.AX) reported that its 9-months underlying profit increased 5.5% to A$4.5billion.
Statutory profit after tax was $4.4 billion up 10.3%. The Australia, NewZealand and International and Institutional Banking (IIB) divisions all recorded income increases, with Wealth division income down slightly.
Total Global Markets income is tracking up 2% year to date to $1.4 billion. The company said that the income composition is changing in line with strategy with customer sales revenues up strongly.
ANZ's productivity program is on track with an expectation of neutral jaws at the Full Year.
"We have managed ongoing funding and competitive pressures well, with Group margins stable relative to the end of the first half. While the credit environment reflects the pressures in the broader economy there have been no developments which would lead us to alter our provision outlook," ANZ Chief Executive Officer Mike Smith said.
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by RTT Staff Writer
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