ANZ Profit Plunges 14% After Massive Job Cuts and $721M Regulatory Hit
The Australian bank ANZ Group reported a sharp fall in its annual profits. Its full-year cash earnings dropped by 14%. The bank earned A$5.79 billion. This result was lower than market expectations. A huge A$1.11 billion one-time charge mainly caused the drop. This charge covered two big costs. First, it paid for cutting about 3,500…