Continued business momentum has helped ANZ
(ASX:ANZ) to achieve a 26 per cent increase in underlying profit after tax in the nine months to 30 June 2010, to $3.6 billion.
The Bank says the improvement on the previous corresponding period is attributable to growth in business earnings and reduced provisions despite lower income from global markets and the impact of exchange rates.
Momentum during the first half of the 2010 financial year was maintained in the third quarter with profit after tax of $1.3 billion – an increase of 37 per cent.
ANZ also said that income rose by 9 per cent over the period as the bank continued to invest for growth in institutional markets and Asia.
In the year to September 2009, ANZ posted a $2.9 billion net profit after tax.
