ANZ boss Shayne Elliott said the bank’s credit quality remains robust despite rising cost-of-living pressures in the Australian economy as he posted a 7 per cent fall in half-yearly cash profit and announced a $2 billion buyback to boost its shares.
He made his comments as ANZ on Tuesday morning announced a cash profit of $3.55 billion for the six months to March and declared an interim dividend of 83 cents a share, 65 per cent franked. The bank also announced a $2 billion buyback, which it said reflected its strong capital position after selling a large part of its Malaysian AmBank holdings.
ANZ’s Australian retail bank saw a 9 per cent drop in cash profit to $794 million even as it gained market share in home loans. However, it maintained that its mortgage pricing remained above the cost of capital.The bank’s flagship digital offering grew to nearly 690,000 customers and $14 billion in deposits at the end of April, with customer deposits more broadly growing 5 per cent over the latest half.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: brisbanetimes - 🏆 13. / 67 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »