Australia's ANZ Banks posts record $5.9 B profit

AP News
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Posted: Oct 24, 2012 7:41 PM

SYDNEY (AP) — One of Australia's largest banks, ANZ Banking Group Ltd., has posted a 6 percent rise in full year profit to a record 5.7 billion Australian dollars ($5.9 billion) as it grew earnings from its domestic and international operations.

The Melbourne-based bank also announced on Thursday that its cash profit of AU$6 billion to the year to Sept. 30 was also up 6 percent from AU$5.7 billion in the previous year. The statutory and cash profits were records for the bank.

ANZ chief executive Mike Smith said in a statement that "Although the operating environment in 2013 looks more challenging with stronger headwinds in a number of areas," the bank is "well placed to deliver value and performance to shareholders."