Australia and New Zealand Banking Group
(ASX:ANZ) has reported underlying profit after tax for the nine months to June 30 of $4.2 billion, 16 per cent higher than the corresponding period.
Unaudited underlying profit for the third quarter of $1.4 billion increased 1.3 percent on the second quarter.
The result was helped by a 10 per cent fall in the provision charge for bad debts.
The bank says there’s some short term challenges, but they remain positive on Australia.
ANZ recorded a net profit of $2.7 billion for the half year ended 31 March 2011.
