ANZ reports solid December quarter
Big banking group ANZ has announced an unaudited cash profit of $1.79 billion for the three months to the end of December, with a solid contribution from its wealth business.
ANZ chief executive, Mike Smith described the performance as having delivered a solid start to 2015 and made specific reference to its global Wealth division as having performed well.
The company's broader announcement said that Global Wealth had continued to build momentum, delivering strong in-force premiums growth, stable claims and lapse experience together with further growth in Funds Under Management.
It said innovations including ANZ Smart Choice Super, The GROW by ANZ digital platform and the ANZ Grow Centre were driving greater adoption of wealth products by both new to bank and existing ANZ customers.
Discussing broad conditions, Smith said 2015 was providing to be slightly tougher and more volatile with tailwinds from the lower Australian dollar having been partially offset by global economic conditions and lower commodity prices.
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