A.N.Z. does well
NZPA Melbourne The Australia and NewZealand Banking Group, Ltd, engaged in merger talks with the Commercial Bank of Australia, Ltd, has announced a 33.7 per cent increase in interim profits and a higher dividend. However, the directors, who released the results a fortnight early in light of the C.B.A. merger talks, said that trading was expected to be more difficult in the second half.
However, a satisfactory result was still expected fo’r the full year. Profit for the six months to March 31 was sAustBB.lM, up from $65.9M in the previous first half. Group income increased 28.2 per cent to 51018.1 M. Interest payments rose 27.3 per cent to $510.9M. Trading bank activities made the biggest contribution with a 43.1 per cent increase in profit to $40.3M but sayings bank profit in-
creased only 11.6 per cent to 513.7 M. The interim dividend of 14c a share has been declared, an increase of 2c a share, on capital following the bonus issue earlier this year. The dividend is payable on July 1. The'profit was after tax which increased ?17.5M to J75.2M, depreciation up 4.4 per cent to SIO.IM and before an extraordinary profit of $3.4M, down from $4.2M in the previous first-half.
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Press, 6 May 1981, Page 30
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205A.N.Z. does well Press, 6 May 1981, Page 30
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