Australia and New Zealand Banking Group (ANZ) has reported cash profit of A$5.2bn for the nine months to the end of June 2016, a fall of 3% from a year ago.

The bank's statutory profit for the period was A$4.3bn, a slump of 23% from A$5.58bn in the prior year.

Profit before provisions increased 5% year-on-year, with income increasing at a faster rate than expenses, the bank said in its earnings statement.

However, the bank’s performance was affected by total provision charge of A$1.4bn. The group net interest margin (NIM) was stable, supported by portfolio rebalancing in institutional offset by increased funding costs and asset pricing competition.

ANZ CEO Shayne Elliott said: “ANZ has now established a consistent focus on delivering the strategic outcomes outlined to shareholders in our First Half 2016 result.

“This includes a steady pattern of strong cost management outcomes and initiatives to rebalance our portfolio to improve capital efficiency and returns.

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“There continue to be opportunities for growth in Retail and Commercial in Australia and New Zealand, and in Institutional Banking including business supporting trade and capital flows in Asia.”