ANZ has made a record annual profit despite what it calls "a constrained environment" and higher bad debts.
But
figures showed little growth with after tax profit for the 2015
financial year up 3 per cent to $7.5 billion, slightly more than
expected by analysts.Cash profit was up 1 per cent at $7.2 billion, slightly less than predicted.
Earnings per share was flat at 260.3 cents because of the bank's capital raising in the second half of the year.
Customer deposits rose 10 per cent over the year and loans and advances increased 9 per cent.
Charges for loans that were written off increased 22 per cent to $1.2 billion.
Shareholders will get a final dividend payout of 95 cents a share, fully franked.
Total dividend for the year is 181 cents per share, fully franked, a rise of 2 per cent.
ANZ's profit margins were squeezed and the bank faces a slowing housing market and tough competition among home loan lenders.
Net interest margin, the difference between what the bank pays for borrowing funds compared to the interest rate at which it lends money, fell from 2.13 per cent in 2014 to 2.04 per cent in 2015.
ANZ made money in Australia, New Zealand and Asia, but lost ground in international and institutional banking.... Read More
