ANZ posts $1 billion plus profit
Chief executive Antonia Watson said the bank had made an after-tax cash profit of $1.107 billion in the six months ending March 31, compared to $968 million in the same period last year.
She agrees it’s “a large profit number”, however, she says, “it needs to be put into the context of the size of our business and the role banks like ANZ play in supporting economic activity in New Zealand, particularly during periods of uncertainty.”
“The actual profitability of ANZ NZ, which measures our returns versus the amount of capital committed by shareholders, is middle of the pack when compared to large companies listed on the New Zealand stock exchange,” she said.
Unsurprising she also said in a statement, it “was a good result”.
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