ANZ leads a trio of major banks set to report billions of dollars in profits over the next two weeks, but it may take investors some time to pick over the details of the lender's finances.
Cash profit, the favoured earnings measure of the Australian-owned banks, rose to $1.86 billion in the 12 months ended September 30 form $1.53 billion a year earlier.
The bank increased its cash profit by 21 per cent to $1.86b.
Chief executive David Hisco said the solid performance was due to lending growth and "strong cost management".
"Our expenses decreased 8 per cent in FY17 and are below our 2010 levels, while we've maintained high customer satisfaction".
The equivalent of more than 1600 full-time staff were cut from the bank in the past year, mostly in its offshore Asia retail and Pacific division and mostly due to asset sales.
Lower levels of credit losses reflected improvement in credit quality in its retail, commercial and agri portfolios which were partially offset by new provisions.
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Final full franked dividend of 80 cents per share, bringing its full-year dividend to $1.60.
Total net loans were up 4 per cent to $117.24 billion, while customer deposits increased 7 per cent $81.86 billion.
ANZ reached the in-principle settlement on Monday and said it would disclose the amount in its full-year results.
MELBOURNE, Australia-Australia & New Zealand Banking Group Ltd. said its annual profit climbed 12% as credit impairments declined and there was no repeat of the prior year's hefty charges for software capitalization and restructuring costs.
Despite expectations the bank would be able to expand its net interest margin - the difference between what it borrows money for and what it lends it out at - they slipped marginally over the year.
ANZ boosted its figures across the board from a year ago, lifting the earnings per share from 202.6 cents to 237.1 cents, and increase of 17 percent.
He said revenue for the whole group was down 1 per cent while the analysts had expected it to be up half a per cent.
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