Australia and New Zealand Banking Group
(ASX:ANZ) has announced a first quarter unaudited cash profit of $1.73 billion, up 13 per cent on the same period last year.
The bank told the market that the result is in line with guidance and should deliver 4 to 5 per cent growth in the current financial year.
CEO Mike Smith said the result comes from growth in domestic and Asian operations as well as a strong operational and productivity discipline.
Smith also spruiked an increase in market share in both Australia and New Zealand and recommitted the bank to improving the quality of its domestic loan book.
ANZ Banking Group reported a net profit of $6.28 billion for the 2013 financial year.
