ANZ Q1 cash profit up 3.5% in tougher conditions

Sydney

AUSTRALIA and New Zealand (ANZ) Banking Group on Tuesday posted a 3.5 per cent rise in first-quarter cash profit, warning that 2015 was shaping up to be a"slightly tougher, more volatile" environment.

ANZ reported cash profit of A$1.79 billion (S$1.9 billion) for the three months to Dec 31, compared with A$1.73 billion a year ago, led by a strong domestic performance, while lower trading income and higher expenses hurt revenue growth.