Who’s Done What? Nov 3 2011

From some recent feedback we are going to include each week this section called “who’s done what”, this will include some company announcements that we find of interest. This week:

• ANZ has recorded positive growth of 19% putting its full year statutory profit at $5.36 billion, with the bank’s strategic focus on its Asian and institutional divisions. ANZ’s underlying profit was up 12% to $5.65 billion for the financial year ending September 30 2011 while its proposed final dividend of 76 cents per share fully franked brings the total dividend for the year to $1.40 per share, 11% higher than for 2010. This growth came from the 7% increase in income despite a 28% decrease in global markets income in second half, said chief executive Mike Smith in a morning briefing about the results. Additionally, a 31% decline in ANZ’s provision for bad debts to $1.24 billion helped net profit.
• NAB attacked over rates decision: NAB has only passed on a 0.20 per cent rate cut to consumers despite its solid profit result, attracting the expected attacks. Click here to view a short video.