ANZ turns in record $7.5b result

financial reporting ANZ financial planning

29 October 2015
| By Mike |
image
image
expand image

ANZ has turned in a record full-year profit result of $7.5 billion after tax.

The result, announced to the Australian Securities Exchange (ASX) today, will see the big banking group produce a final dividend of 95 cents per share fully franked.

Commenting on the result, ANZ chief executive, Mike Smith noted that it had been achieved in a constrained environment and said that the bank's Global Wealth Division had turned in a positive performance.

Drilling down on the Global Wealth Division, the ANZ's announcement to the ASX said that profit had increased by 11 per cent, with positive performance experienced across all business units.

It said insurance delivered growth in in-force premiums along with stable claims and lapse experience, which contributed to an 18 per cent increase in both embedded value and in the value of new business.

"Private Wealth continued to deliver growth through customer-focused investment solutions, with funds under management increasing 22 per cent and customer deposits by 33 per cent year-on-year," it said.

 

 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 day 22 hours ago

Interesting. Would be good to know the details of the StrategyOne deal....

6 days 4 hours ago

It’s astonishing to see the FAAA now pushing for more advisers by courting "career changers" and international recruits,...

3 weeks 4 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

2 weeks 6 days ago

A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments ...

5 days 2 hours ago

Pinnacle Investment Management has announced it will acquire strategic interests in two international fund managers for $142 million....

4 days 5 hours ago