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Australian lender ANZ posts 65% jump in annual cash profit -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: A person talks on his cellphone in entrance of an ANZ Banking company tower in central Sydney, Australia February 20, 2018. REUTERS/Daniel Munoz

(Reuters) – Australia and New Zealand Banking Group Ltd reported a 65% leap in annual money revenue on Thursday because the nation’s fourth-largest lender launched funds stored apart to cowl potential unhealthy loans through the pandemic.

Money revenue from persevering with operations got here in at A$6.20 billion ($4.66 billion) for the yr ended Sept. 30, in contrast with A$3.76 billion a yr earlier. It was above the common expectation of A$5.96 billion in a Reuters ballot of seven analysts.

($1 = 1.3303 Australian {dollars})

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