(Australia) – St. George Bank says it booked a net profit of A$14 million from the sale of its 16.9 million shares in payments system operation Cashcard Australia earlier this year.In a statement to the Australian Stock Exchange, St. George said the profit would be recorded as a “significant item” in its annual results for the year ending September 30, 2002.
St. George – Australia’s fifth largest bank – posted a 41 percent rise in first half net profit to A$244 million.
Its full year profit for the year to September 30 is expected to be in a range between A$499 million and A$621 million.