ANZ FY Profit Down

Australia And New Zealand Banking Group Ltd.(ANZ.AX,ANZBY.PK,ANZ) reported that its profit after tax for the full Year ended 30 September 2019 was A$5.95 billion, down 7% from the prior year.

ANZ Chief Executive Officer Shayne Elliott said, "This has been a challenging year of slow economic growth, increased competition, regulatory change and global uncertainty."

Cash profitfrom continuing operations was A$6.47 billion, flat with the prior comparable period. Cash Earnings per Share increased 2% to 228 cents.

The proposed Final Dividend is 80 cents per share, partially franked at 70%. This equates to A$2.3 billion to be paid to shareholders against ANZ's market capitalisation of A$78 billion.

The bank said that the management actions and operational improvements have seen a steady recovery in home loan applications in recent months. This momentum is expected to be maintained into 2020.

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