$4.5bn profit for major

by Caroline Dann17 Aug 2012

ANZ recorded a $4.5bn unaudited, underlying profit in the nine months leading to June, putting it second in the Big Four behind CBA.

CEO Mike Smith said increased activity in Asia contributed to the robust figures. ANZ has been aggressively pushing into the region in the past six months.

ANZ's underlying profit was up 5.5% from last year, while its unaudited statutory profit after tax rose 10.3% from the same period.

The results from its loan sector were also positive, with a reported net interest margin of 270 basis points.

On Tuesday, rival CBA posted record $7.1bn profits, which has sparked both incredulity and hope of a recovery amongst industry analysts.