ANZ Bank posts 13 percent gain in first-quarter cash profit on reduced impairments, higher lending

Tue, 11 Feb 2014

Feb. 11 (BusinessDesk) - Australia & New Zealand Banking Group posted a 13 percent gain in first-quarter cash profit after recording a lower charge for impaired loans and boosting lending. Unaudited cash profit was A$1.73 billion in the three months ended Dec. 31, from A$1.53 billion a year earlier, the Melbourne-based lender said in a statement. Cash profit excludes one-time items. Statutory profit increased to A$1.64 billion from A$1.36 billion. Shares of ANZ have climbed 140 percent on the ASX in the past five years, a period when it has...

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