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ANZ New Zealand delivers good financial performance

Wednesday 29 February 2012, 2:26PM

By ANZ New Zealand

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The Australia and New Zealand Banking Group Ltd (ANZ) NZ Branch disclosure statement for the three months ended 31 December 2011 was released today, showing a good performance for ANZ New Zealand .

Underlying profit for the three months was $351 million, up 17% on the corresponding period last year. Statutory profit for the three months was $415 million, with the difference mainly due to fair value gains on derivatives.

ANZ New Zealand Chief Executive Officer David Hisco said: "This is another good performance. We are continuing to strengthen the bank by focusing on our customers, simplifying the business and tightly managing costs. While economic growth in New Zealand remains subdued, our sound financial position means we are well placed to keep delivering to customers while supporting businesses and the economic recovery."

Read the full media statement here:  ANZ NZ three month DS to 31 December 2011