Australia and News Zealand Banking Group (ANZ)
has recorded a A$2.8bn ($3bn) net profit for the six months to 31
March, up by 23% from the corresponding period a year ago.

Pre-tax profit for the half-year period soared
by 42% to A$3.9bn.

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Net interest income for the six months to
end-March rose by 8% to A$5.7bn year on year; fee income remained
unchanged at A$1.2bn.

ANZ’s net interest margin grew to 2.47%, up
from 2.45% in the six-month period to 31 March 2010.

The bank customer deposits grew by 13% year on
year to A$268bn, with ANZ’s businesses in Asia Pacific, Europe and
America (APEA) posting the strongest increase, by 33% to A$
54.4bn.

In Australia, customer deposits increased by
11% to A$168bn;

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In New Zealand, customer deposits grew
marginally by 1% to A$46.6bn.

Other group highlights included:

  • The bank had total assets of A$ 537.5bn as of the end of March,
    an increase of 6% from the corresponding period a year ago;
  • Customer deposits rose by 13% year on year to A$268.7bn;
  • Total provision charges for credit impairments fell by 36.7% to
    A$675m.

 

Profit after tax by
region

In Australia, the bank posted net income for
the six months to 31 March of A$1.9bn, a 38% increase from the
prior corresponding half-year.

For the same period, profits from its business
in New Zealand increased by a fifth to A$363m, while in APEA, ANZ’s
profits soared by 68% to A$384m.

 

Retail loans

APEA also drove net retail loans (and other
advances) within the group’s regional segments, with a 37% increase
to A$5.7bn for the six months period to 31 March.

In Australia, retail net loans grew by 10% to
A$175.8bn – but ANZ’s New Zealand operations recorded a 6% dip in
retail net loans compared with the six months to 31 March 2010 to
A$26.3bn.

On group level, net retail loans grew 9% year
on year to A$207bn.

 

Customer deposits

Customer deposits at ANZ’s retail banking
business increased by 14% to A$82.6bn year on year in Australia,
while in New Zealand they dipped by 1% compared with the
corresponding half-year period in the prior fiscal to A$20.5bn.

In contrast, ANZ’s APEA businesses recorded a
35% rise in customer deposits to A$12.5bn.