ANZ Annual Profit Rises 11%

Australia & New Zealand Banking Group

reported an 11% rise in its annual profit. ANZ's net profit for the year climbed to 6.27 billion Australian dollars (US$6 billion), from A$5.66 billion, in the year-ago period. Its cash earnings rose 11% to A$6.5 billion, beating analysts' estimates of A$6.4 billion. Australia & New Zealand Banking shares closed at $31.91 yesterday.