Australia & New Zealand Banking Group (ANZ) has posted cash profit of A$1.85bn ($1.31bn) for the first quarter of fiscal 2016, a rise of 4% compared to the year ago quarter.
For the quarter ended 31 December 2015, the lender recorded statutory net profit stood of A$1.6bn.
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Total provision charge was A$362m, including individual provisions of A$319m and collective provisions of A$43m, the bank said in its trading update.
The bank in its earnings statement said that it Common equity tier 1 ratio stood at 9.4% at 31 December 2015.
ANZ CEO Shayne Elliott said: "The Australian and New Zealand economies are performing well with low interest and exchange rates supporting the transition to more balanced growth following the commodities boom.
"We have seen very good performances in our Retail and Small Business segments however Corporate borrowing demand remains subdued. The domestic credit environments were stable although there are pockets of weakness associated with low commodity prices."
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