ANZ, Australia's No. 4 lender by mortgages, said annual profit tumbled as fierce competition ate away margins while late loan repayments surged, underscoring the pressure on banks and their customers as they hold out for an interest rate cut.

ANZ chief executive Shayne Elliott says interest rates cuts are likely to be later next year and less frequent than expected if Donald Trump enacts his inflation-boosting policies once he reaches the White House. The country’s fourth-largest bank ...

(Reuters) -Australian lender ANZ Group reported lower-than-expected annual cash earnings and slashed its dividend on Friday as a challenging period of intense deposit and lending competition and high costs crimped its margins. "Competition in the (core ...