The Australia and New Zealand Banking Group (ANZ) has recorded a massive profit

ANZ records $7.4 billion full-year profit

Compared to last year, the profits recorded by the Australia and New Zealand Banking Group (ANZ) are $7.4 billion in full-year cash profit.

The recorded profits are 14% higher than the previous year.

According to the chief executive of ANZ, Shayne Elliot, out of the bank’s million homeowners, only 2,000 have been reported to face financial hardship.

Citing a more volatile economic situation, the bank has allocated $245 to credit provisions for loan losses.

The bank also raised its interim dividends, which now stand at 81 cents per share, an increase of nine cents over the previous year.

- Published By Team Australia News

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