ANZ Group Reports 31 Percent Rise in Annual Profit
Australian lender ANZ Group posted a 31 percent increase in annual cash profit driven by business growth and cost management. Operating expenses declined during the period while retail division profit climbed.
Insights:
Australia's fourth-largest lender by market capitalisation posted an annual cash profit of A$7.59 billion ($5.21 billion) on Monday morning. The result marks a 31% increase from the previous year's A$5.79 billion. The performance matched Visible Alpha consensus estimates of A$7.55 billion, supported by disciplined cost control and robust business growth across core divisions.
