ANZ has posted a flat full-year cash profit off the back of a year of slow economic growth, increased competition, regulatory change and global uncertainty. However, increased Australian home loan applications and prudent, diversified growth in Institutional banking provided momentum across the business.
The dividend was held at A80 cents per share, partially franked at 70 per cent.
ANZ posted a statutory profit after tax of $A5.95 billion in the full year, a 7 per cent decrease. Cash profit was flat at $A6.47 billion.
The bank’s capital position was broadly flat with Core Equity Tier 1 capital at 11.4 per cent and almost $A4 billion above the Australian Prudential Regulation Authority’s (APRA) ‘unquestionably strong’ measure.
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