Finance company customers seek out banks
The bank yesterday announced a record annual interim profit due to falling operating expenses and lower provisions for credit impairment.
Its half-yearly results showed a statutory profit of $655 million, 1% up on the previous half.
ANZ chief executive David Hisco said the result maintained the momentum that had come out of a series of changes in the business. The bank dropped the National Bank brand last year. “The initial phase of our brand integration including the move to one core banking system has gone smoothly.”
He said simplification had allowed the bank to lift productivity and reduce costs.
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