The ANZ bank is on track for a record full year profit

Photo: Cameron Spencer/ Getty.

The ANZ posted a 4.3% increase to $5.4 billion in cash profit for the the nine months to the end of June, putting it in line to hit a full year record of about $7.2 billion.

According to a trading update, unaudited statutory net profit was up 11% to $5.58 billion.

The Commonwealth Bank last week posted a record full year cash profit of $9.137 billion. The other three big banks have different reporting periods and won’t post full year results for another three months.

ANZ Bank CEO Mike Smith says the third quarter operating environment was similar to that of the first half.

“Economies in our key markets have slowed a little compared to previous years and global conditions remain challenging,” he says. “In these circumstances we are continuing to sharpen our focus on the management of capital and on the control of expenses.”

Customer deposits grew 9.5% with net loans and advances up 7.7%.

Income in the global markets business was up 6% to $1.8 billion.

The ANZ bank is raising $3 billion via a share placement to meet stricter capital rules.

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