Australia And New Zealand Banking Group Ltd. (ANZ, ANZBY.PK, ANZ.AX)or ANZ reported that its first quarter Cash Profit rose 6.2 percent to A$1.53 billion from A$1.44 billion in the prior year. Statutory Profit after tax for the quarter was A$1.36 billion. ANZ stated that it has produced a solid business performance consistent with expectations.
Commenting on the first quarter, Chief Executive Officer Mike Smith said: "We are delivering against our strategic growth and productivity priorities. This has seen ANZ continue to perform despite soft economic conditions in Australia and New Zealand, and cautious behaviour by consumers and business."
"Our strategy has seen us benefit from volume growth in Asia and our exposure to these opportunities is an increasingly important part of the Group's earnings with Greater China our third largest source of profits after Australia and New Zealand" Mike Smith added.
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