Australia and New Zealand Banking Group (ANZ) has reported a full-year cash profit of A$7.21bn, an improvement of 1% compared to A$7.11bn a year ago.
The bank’s statutory profit after tax increased 3% to A$7.49bn from A$7.27bn in the prior year. The group’s customer deposits increased 10%, while net loans and advances saw a 9% rise.
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The bank’s Australia division continued its cash profit improvement with 7% growth in profit and PBP, driven by growth in customer numbers as well as increased product sales and market share.
The unit’s lending was up by 9% and deposits were up by 5%, with sales performance particularly strong in home lending, credit cards and small business banking.
ANZ’s New Zealand business registered a 3% rise in cash profit and 7% rise in PBP. Lending and deposits increased by 8% and 14%respectively.
ANZ CEO Mike Smith said: "We have produced another record result in FY15. In a constrained environment, we have continued to see growth in our core customer franchises in Australia, in New Zealand and in key Asian markets, partly offset by the effect of macro-economic headwinds on the International and Institutional Banking Division.
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By GlobalData"The Australia Division has continued to deliver good profit growth based on market share gains in key segments. The New Zealand Division also grew profit based on market share gains and strong cost disciplines."
