October 30, 2018 / 8:43 PM / 19 days ago

Australia's ANZ posts 5 pct annual profit decline on compliance costs

Oct 31 (Reuters) - Australia and New Zealand Banking Group Ltd said on Wednesday full-year cash earnings fell 5 percent, hit by mounting compliance costs that include compensation to customers hurt by poor bank practices.

Australia’s No.3 lender said cash profit from continuing operations was A$6.49 billion ($4.61 billion) for the year ended Sept. 30, compared with A$6.81 billion last year.

The result was largely in line with an average estimate of A$6.40 billion drawn from a Reuters poll of eight analysts.

$1 = 1.4079 Australian dollars Reporting by Rushil Dutta in Bengaluru; Editing by Edwina Gibbs and Emelia Sithole-Matarise

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