UPDATE 1-ANZ posts 12 pct rise in Q3 profit; flags margin pressure
* Australia's third-biggest lender by market value meets forecasts
* Warns full year revenue growth will slow compared to last year
* Group net interest margin falls two basis points
* Q3 2013 cash earnings of A$1.62 bln
SYDNEY, Aug 16 (Reuters) - Australia and New Zealand Banking Group Ltd met forecasts with a 12 percent rise in third-quarter profit as tight cost controls offset slower growth in key markets, but said full-year revenue growth would be slower than last year.
The nation's third-biggest lender by market value said on Friday that group net interest margin, a measure of core bank profits, fell two basis points.
Excluding its global markets business, ANZ said net interest margin fell by three basis points in the quarter was expected to fall further in the final quarter of its financial year, hit by pressures including lower interest rates.
"Although the economic outlook in Australia has softened somewhat, there is cause for greater optimism in the medium term as the effect of lower interest rates, a more competitive currency and the removal of some pre-election uncertainty underpin consumer confidence and economic activity," Chief Executive Michael Smith said in a statement.
ANZ posted a cash profit of A$4.8 billion ($4.4 billion) for the nine months to end June, up 11 percent.
Cash earnings for the third quarter of its 2013 financial year were A$1.62 billion, based on Reuters' calculations, compared to a consensus forecast of A$1.63 billion from four analysts.
ANZ switched to a focus on cash earnings, which excludes one-offs and non-cash items and which is closely watched by investors, earlier this year to align itself with its peers.
The bank is seeking to position itself as a pan-Asian player like HSBC Holdings Plc and Standard Chartered Plc with its "super-regional strategy." It has a goal of bringing in between 25 and 30 percent of earnings from Asia-Pacific, Europe and America by 2017.
Those plans have recently been brought into focus after sources told Reuters Japan's Mizuho Financial Group had offered to buy ANZ's 39.2 percent stake in PT Bank Pan Indonesia . ANZ previously declined to comment.
Like its domestic peers, Commonwealth Bank of Australia , National Australia Bank Ltd, and Westpac Banking Corp, ANZ's shares have been driven up this year by yield-hungry investors switching out of mining stocks as the resources boom tapers.
ANZ's shares have risen 21.2 percent so far this calendar year, outperforming a 10.8 percent gain in the S&P ASX 200 benchmark index.
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