ANZ Bank's
(ASX:ANZ) statutory profit after tax fell 24% to $5.7 billion in the full year ended 30 September 2016. As for its cash profit, that fell 18% to $5.9 billion.
These profit figures are below expectations, and were affected by $1 billion in after tax charges, such as the cost of software and restructuring.
ANZ declared a final dividend of 80 cents per share, taking the FY16 total dividend to $1.60 per share, fully franked. This dividend is 12% lower compared to FY15.
Following these results, the Bank says it will look into selling its Australian life insurance, advice and investments business following a strategic review.
