ANZ has posted $2.9 billion in profit for the half year, representing a very health 7 per cent increase over the previous half.

Strong growth its Asian business, coupled with solid growth of its domestic Australia Division, has seen the company grow its bottom line.

“This result is a good performance and demonstrates ANZ is delivering consistent, well diversified revenue growth supported by strong productivity and capital management outcomes,” ANZ Chief Mike Smith said.

“Since 2008 we have worked hard to connect ANZ shareholders and customers to the significant opportunities being created by Asia’s fast-growing economies while building on our traditional strengths in Australia, New Zealand and the Pacific.

“This half saw us strengthen our franchises in Asia Pacific, Australia and New Zealand, hold Group margins steady, produce a lower cost-to-income ratio and achieve a higher return on equity while further strengthening our capital position. Shareholders are benefiting from these outcomes.