IQPlus, (11/02) - Australia & New Zealand Banking Group Ltd (ANZ), Australia's third-largest bank said first-quarter profit rose 13 percent compared to the prior year period due to the high cost of credit. Profit rose to A $ 1.73 billion ($ 1.55 billion) in the three-month period ended December 31, according to a report from Australia's central bank on Tuesday. ANZ also plans bonds to achieve an additional A $ 1 billion. ANZ to spend A $ 191 million for bad loans is smaller than A $ 311 million in the prior year period. (end)
src:iqplus
