ANZ Institutional has announced a first-half profit, including an increase in revenue and a reduction in costs.
The bank’s institutional arm posted an interim cash profit of $A1 billion, 33 per cent higher than the previous corresponding period.
ANZ CEO Shayne Elliott said ANZ Institutional has been “transformed into a well-managed business delivering consistent and diversified results for shareholders as well as customers”.
He also told bluenotes the division was “probably the star performer of the half”.
Total expenses for the period were dragged down 4 per cent to $A1.3 billion. Revenue came in 8 per cent higher at $A2.7 billion.
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