Australia and New Zealand Banking group has garnered a full year profit of $7.2 billion in the financial year 2015 despite several environmental constraints that attempted to block its path of success.

The bank maintained its growth as far as core customer franchises in all of its branches across Australia, New Zealand and Asian market were concerned, ANZ CEO Mike Smith said. There were some macroeconomic factors related to the International and Institutional Banking Division that affected the productivity of the group.

“The Australia Division has continued to deliver good profit growth based on market share gains in key segments,” Smith said. “The New Zealand Division also grew profit based on market share gains and strong cost disciplines.” Global Wealth again produced a positive performance.

International and Institutional Banking earned a lower profit because of global environmental challenges, including market volatility in the last few weeks of the financial year 2015, which led to declining business in Global Markets. However, the CEO claimed that the banking group was working on strategic developments to maximise customer satisfaction.

However, Smith noted that it was difficult for the bank to provide up to 16 percent returns on equity to shareholders. He pointed out that the profit report depicted slowed growth in earnings, flat dividends and a shrinking in shares of the bank’s stakeholders - a decline caused by recent capital raising efforts.

The CEO said that the target of shareholders returns on equity to 16 per cent would be achieved by this time in 2016.

“Over the past eight years we have strengthened ANZ, created Australia’s only truly regional bank and built a better bank for our customers in Australia, in New Zealand and in Asia Pacific. I know ANZ will be in good hands when Shayne Elliott success me as Chief Executive on 1 January,” Smith said while introducing the would-be CEO of ANZ.

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