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Result driven by solid underlying business performance; accelerating execution of the super regional strategy
ANZ today announced statutory profit of $5.36 billion and underlying profit of $5.65 billion for the financial year ended 30 September 2011 up 19% and 12% respectively on the previous year (YOY).
The proposed final dividend of 76 cents per share fully franked brings the total dividend for the year to $1.40 per share, 11% higher than for 2010.
ANZ Chief Executive Officer Mike Smith said: “This result is in line with the key trends that we outlined at our August trading update.
“Our key customer franchises in Australia, New Zealand and Asia Pacific have produced solid performances; we have continued to make progress with our super regional strategy; and we have delivered value for our customers.
“We have a strong financial and capital position. Our focus on the growth markets of Asia and their connectivity with our key domestic franchises means we are in the right place, with the right strategy at the right time.
“In the second half though, the global economic situation saw trading conditions for our Markets business deteriorate significantly. This more difficult operating environment - characterised by ongoing economic volatility, cautious consumer and business behaviour, and higher funding and capital costs for banks globally - is likely to be with us for some time.
“With the changed game in global banking, our strategy and our financial strength will give us even more choices - choices which are open to very few banks in the world right now.
“This is providing another window for us to take advantage of growth opportunities, to expand the support we provide to customers, to build scale and create value for our shareholders.
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Ben Heath
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2011 ANZ Full Year Results
2011-11-03
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