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SYDNEY Feb 11 Australia New Zealand Banking
Group Ltd, Australia's third-largest bank by market
value, on Tuesday reported a 13 percent rise in first-quarter
cash profit, slightly ahead of analyst forecasts.
ANZ reported a cash profit of A$1.73 billion for the three
months to December, up from A$1.53 billion a year earlier,
bolstered by double-digit growth in its institutional banking
business in Singapore, China and Hong Kong.
Two analysts had forecast cash profit would climb to A$1.70
While banks reap the benefits of cost controls and record
low interest rates, ANZ is aiming to set itself apart by
pursuing a pan-Asian strategy and growing the proportion of
earnings it gets outside Australia.
(Reporting By Byron Kaye and Sonali Paul; Editing by John Mair)