ANZ Banking Group (ASX:ANZ) has posted a 19 per cent increase in its annual net profit, hitting a record $5.36 billion.
In the year to the end of September the bank’s cash profit grew 12 per cent to $5.65 billion, broadly in line with expectations.
Profit in ANZ’s Asia Pacific, Europe and America division gained 16 per cent over the last year, with the bank targeting up to 30 per cent earnings growth in the region by 2017.
CEO Mike Smith has cautioned that ongoing economic volatility, cautious consumer and business behavior and higher funding and capital costs for banks globally are likely to remain for some time.
A final fully-franked dividend of 76 cents per share has been declared, bringing the full year payout to $1.40.
