ANZ resilient in toughening times
The ANZ Banking Group has continued its strong financial performance, with its latest trading update for the nine months to 30 June revealing a four per cent increase in unaudited cash profit to $5.4 billion and an unaudited statutory net profit up 11 per cent to $5.58 billion.
The trading update, released to the Australian Securities Exchange (ASX), today pointed to a positive performance within the banking group's Global Wealth Division.
The ASX announcement referenced positive underlying performance across the key businesses within the Global Wealth Division with strong in-force premium growth, stable claims and lapse experience plus growth in Funds Under Management (FUM).
Commenting on the update, ANZ chief executive, Mike Smith, said the third quarter operating environment had remained similar to that of the first half with economies in the bank's key markets having slowed a little compared with previous years and global conditions remaining challenges.
"In these circumstances we are continuing to sharpen our focus on the management of capital and on the control of expenses," he said.
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