ANZ Banking Group posts $5.5b profit

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SYDNEY, Nov 3 (IANS): ANZ Banking Group, one of the big four banks in Australia, Thursday posted a 19-per cent rise in full-year net profit to 5.36 billion Australian dollars ($5.5 billion). ANZ's net profit for the 12 months to September 30 was up from 4.5 billion Australian dollars a year earlier, Melbourne-based ANZ said in a statement Thursday. ANZ Chief Executive Officer Mike Smith said the result was in line with the key trends that the bank outlined at its August trading update, reported Xinhua. Profits in the bank's Australian operations rose by just two per cent for the year, while its Asia Pacific, Europe and American division profits jumped 20 per cent, ANZ said.