ANZ 1Q 1.53b Profit

Australia and New Zealand Banking Group (ASX:ANZ) have announced its first quarter results to Australian stockmarket investors and traders.

• ANZ unaudited Cash Profit (one off items removed) $1.53 billion for the December quarter, up 6.2 percent on the previous corresponding period.
• ANZ unaudited net profits for the quarter fell to $1.36 billion from $1.7 billion.
• ANZ Chief executive Mike Smith said, "We are delivering against our strategic growth and productivity priorities. This has seen ANZ continue to perform despite soft economic conditions in Australia and New Zealand, and cautious behaviour by consumers and business."
• ANZ's global markets income increased 26 percent to $544 million.
• The bank's average customer deposits increased 12.3 percent and average lending assets were up 7.6 percent.
• ANZ had cut 1,000 jobs last year.
• ANZ is Australia's third biggest lender by market value.