ANZ New Zealand Sees 1% Rise in Annual Cash Profit Amid Mixed Results

ANZ Group Holdings Ltd. (ASX: ANZ) reported a $2.28 billion after-tax cash profit from its New Zealand division for the year ending September, marking a 1% increase from the previous year. The statutory after-tax profit, however, dipped by 2% to $2 billion due to economic hedge adjustments. For the broader group, including ANZ’s Australian operations, the after-tax profit was A$6.5 billion (NZ$7.21 billion), representing an 8% decline year-over-year. Group cash profit stood at A$6.7 billion, or A$6.9 billion when excluding the recent A$196 million acquisition of Suncorp Bank, reflecting a challenging environment across both markets.

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