Feb
16

ANZ Bank First-Quarter Cash Earnings Rise to A$2 Billion

By
  • Lending profitability declines on increased funding costs
  • Bad-debt provisions outlook ‘more positive’ than expected

Australia & New Zealand Banking Group Ltd. first-quarter cash earnings rose on a stronger performance from the lender’s domestic businesses, while the outlook for bad debts has improved.

Unaudited cash profit, which excludes one-time items, rose to A$2 billion ($1.54 billion) in the three months ended Dec. 31, the Melbourne-based lender said in a statement to the stock exchange Friday. That’s up 8 percent from the A$1.85 billion recorded a year earlier. Statutory net profit was unchanged at A$1.6 billion…

ANZ Bank First-Quarter Cash Earnings Rise to A$2 Billion

Share
Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.