Economy

Stocksak: Australian lender ANZ’s cash profit increases 5%


© Stocksak. FILE PHOTO : The logo for the ANZ Banking Group can be seen in the window of a central Sydney branch, Australia, April 30, 2016. REUTERS/David Gray

(Stocksak). Australia and New Zealand Banking Group Ltd reported on Thursday that full-year cash profits rose 5% as the company’s home loan business picked-up and higher interest rates boosted margins.

The fourth-largest bank in the country reported a cash profit of continuing operations of A$6.52 billion ($4.23 Billion) for the year ended September 30, compared to A$6.20 Billion a year ago and a Visible Alpha consensus estimate at A$6.31 Billion.

($1 = 1.5406 Australian dollars)

News Source and Credit

Stocksak Editorial

We are a financial blog that covers topics such as investing, saving, spending, and earning more money. Please feel free to peruse our site and read any of the articles that catch your interest.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button