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ANZ Reports 31% Annual Profit Growth | Markets & Money News
ANZ Group has announced a remarkable 31% increase in full-year cash profit, reaching AUD 7.59 billion for the year ending September 30. This growth is attributed to effective management of margins and costs, with operating expenses down 14%. The Australia Retail division saw significant improvement, with profits rising to AUD 1.71 billion, driven by higher home loan volumes. Despite a slight decline in net interest margin due to competition, ANZ appears well-positioned for the upcoming year.
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