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.

“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.”