ANZ cash profit more than doubles | Ralph Lauren

Must Read

ANZ has more than doubled first-half cash profit from a year ago to $2.99 billion, helped by increased market share in the home loans market and improving economic conditions.

Statutory net profit for the six months to March 31 also rebounded, nearly doubling from a year ago to $2.94 billion as the Big Four lender wound back almost $500 million in provisions due to improving credit conditions.

ANZ’s profit had plunged last year after it was forced to make higher provisions to cover for the potential impact from the COVID-19 disruptions.

On Wednesday, the banks also declared a better-than-expected first-half dividend of 70 cents a share, after deferring shareholder payout for the same period last year.

Source link

Leave A Reply

Please enter your comment!
Please enter your name here

Latest News

Former Major General says Australia-US have only slim chance against China

One of Australia’s top military figures has given a grave warning about the true threat China poses to...

More Articles Like This