FX results up down under
Last Thursday (October 23), ANZ cited a 45% year-on-year rise in FX earnings within its global markets division, due to volatile currency markets over the course of the year. Revenues reached A$545 million ($364 million) for the full year to September, up from A$377 million for the previous year.
While these FX gains boosted earnings for ANZ's global markets operations, they did not redeem the bank's overall institutional business, which experienced a 65% drop in net profits due to the credit
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