Salem Radio Network News Thursday, December 2, 2021

Business

Australian lender ANZ posts 65% jump in annual cash profit

(Reuters) – Australia and New Zealand Banking Group Ltd reported a 65% jump in annual cash profit on Thursday as the country’s fourth-largest lender released funds kept aside to cover potential bad loans during the pandemic.

Cash profit from continuing operations came in at A$6.20 billion ($4.66 billion) for the year ended Sept. 30, compared with A$3.76 billion a year earlier. It was above the average expectation of A$5.96 billion in a Reuters poll of seven analysts.

($1 = 1.3303 Australian dollars)

(Reporting by Riya Sharma and Nikhil Kurian Nainan in Bengaluru; Editing by Arun Koyyur)

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