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)

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