SYDNEY Feb 17 Australia and New Zealand Banking
Group on Friday reported a 31-percent rise in
first-quarter unaudited cash profit due to a strong performance
from its core lending business in Australia and New Zealand.
The country's No. 3 lender by market value said unaudited
cash profit stood at A$2 billion for the quarter ended Dec. 31,
but its net interest margin declined by "several basis points"
due to higher funding costs.
Adjusted to remove the impact of certain one-off items, such
as impairment and restructuring charges, unaudited cash profit
rose 20 percent. The trading update did not provide as much
detail as a full earnings statement.
(Reporting by Jamie Freed; Editing by Louise Ireland)