In a contrast to Nab yesterday, ANZ’s full year results today are striking. In the year to September 30, ANZ delivered a cash profit of $7.12 billion which is a 10 per cent increase on last year’s result. This is in line with forecasts. Full-year net profit increased 15 per cent to $7.27bn, while operating income rose 8 per cent to $20.054bn. The net interest margin fell slightly, to 2.13 per cent, from 2.22 per cent, reflecting strong competition for loans.
Cash profit from Asia increased 25 per cent and revenue by 10 per cent in the full-year. The bank’s international business in Asia Pacific, Europe and America now accounts for 24 per cent of group revenues. Cash profits in those areas increased 20 per cent to $1.2bn. In contrast, the Australian region’s cash profit was up one per cent at $4.4bn.
