ANZ profits from NZ, Asian operations
(21 August 2012 – New Zealand) In the nine months to June, ANZ National Bank’s profits have soared 31 percent and on target to climb past last year’s record net profit.
New Zealand’s largest bank posted a net profit of NZ$965 million (A$747 million), up from NZ$735 million in the same period last year.
With one more quarter to go, the bank is now just NZ$120 million shy of last year's record full-year profit of NZ$1.085 billion.
After excluding non-cash and significant items, underlying profit was NZ$1.024 billion in the nine months to June, up 12 percent on the corresponding period last year.
In a statement on Friday, parent ANZ Bank profited A$4.4 billion for the nine months to June – a 10 percent increase in profits, largely due to higher income in the banks Australia, New Zealand and Asian operations.
The bank said it had picked up market share in deposits, mortgages and business lending.
The bank's unaudited underlying profit for the nine months to June 30 was A$4.5 billion, up 5.5 percent from the same period in the previous year.
Smith said there remained growth opportunities in ANZ's expanding international business and from institutional banking.
'We have managed ongoing funding and competitive pressures well, with group margins stable relative to the end of the first half,' Smith said.
With one more quarter to go, the bank is now just NZ$120 million shy of last year's record full-year profit of NZ$1.085 billion.
After excluding non-cash and significant items, underlying profit was NZ$1.024 billion in the nine months to June, up 12 percent on the corresponding period last year.
In a statement on Friday, parent ANZ Bank profited A$4.4 billion for the nine months to June – a 10 percent increase in profits, largely due to higher income in the banks Australia, New Zealand and Asian operations.
The bank said it had picked up market share in deposits, mortgages and business lending.
The bank's unaudited underlying profit for the nine months to June 30 was A$4.5 billion, up 5.5 percent from the same period in the previous year.
Smith said there remained growth opportunities in ANZ's expanding international business and from institutional banking.
'We have managed ongoing funding and competitive pressures well, with group margins stable relative to the end of the first half,' Smith said.
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