ANZ today announced a statutory profit after tax of $2.9 billion up 7% compared to the previous half (HOH). Cash profit1 of $3.2 billion increased 8% HOH and 10% against the prior comparable period (PCP). The interim dividend of 73 cents per share fully franked is 11% higher than interim 2012.
ANZ Chief Executive Officer Mike Smith said: “This result is a good performance and demonstrates ANZ is delivering consistent, well diversified revenue growth supported by strong productivity and capital management outcomes.
“Since 2008 we have worked hard to connect ANZ shareholders and customers to the significant opportunities being created by Asia’s fast-growing economies while building on our traditional strengths in Australia, New Zealand and the Pacific.
“This half saw us strengthen our franchises in Asia Pacific, Australia and New Zealand, hold Group margins steady, produce a lower cost-to-income ratio and achieve a higher return on equity while further strengthening our capital position. Shareholders are benefiting from these outcomes. “A highlight of our performance was our ability to invest over $400 million in growth initiatives during the period while also producing strong productivity outcomes across the business with expenses down 8% and the cost to income ratio down to 44.4%.
“This outcome is a step change for ANZ. It reflects a continuing commitment to growth while also delivering sustainable productivity outcomes that provides us with ever greater earnings leverage over time.