ANZ releases results – and they’re very good

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    ANZ releases results – and they’re very good.

    Final big four member to release results is optimistic for 2021

    Yesterday Westpac released its (very healthy) figures – today ANZ has reported a profit jump, recording an unaudited cash profit of $1.81 billion – a huge leap of 54% from the average of the last two quarters of last year, and a whopping 154% improvement over the first two quarters of the year.

    ANZ is also optimistic for what remains of 2021, and has written back nearly $173 million of bad debt provisions.

    ANZ now only has 15,000 home loans that still have COVID deferrals, down to just 16% of the 96,000 the bank faced during the worst of the pandemic’s wave of mortgage deferrals.

    How the big 4 stack up so far (Cash profit, A$ billions)

    Commonwealth Bank $3.89

    Westpac $1.97

    ANZ $1.81

    NAB $1.67

    Deferred mortgage book amount reported (A$ billions)

    Westpac $11

    CBA $9

    ANZ $6

    NAB $1

    Original Article