ANZ posts 24% profit jump

ANZ has posted a 24 per cent rise in profit to $2.32 billion for the year to June 30, just above analysts’ forecasts.

A good performance across the board saw 10 per cent or more growth in most of its business divisions. ANZ is the third largest bank in Australia and has been one of the big beneficiaries in the explosion of personal debt via its successful Qantas and Telstra co-branded Visa credit cards.

Although warning against tougher conditions this financial year than last, the bank says it is not changing its revenue forecasts for the current year and expects to deliver 10 per cent earnings per share growth. A half-year dividend of 46 cents was declared.