ANZ Banking Group has updated its strategy for international growth, setting a goal for up to 30 per cent of its profit to be driven by its divisions in Asia, Europe and the Americas by the end of 2017.
In a briefing to analysts yesterday, chief executive Mike Smith said ANZ had set a target for revenue from its Asia Pacific Europe and Americas (APEA) division to contribute 25 to 30 per cent of the group's profit by the end of 2017.
In October, Smith said APEA's contribution would reach 30 to 33 per cent. The division contributed A$509 million, or 11.3 per cent of group after-tax profit in 2009/10 and 14 per cent of ANZ's underlying earnings.
ANZ sets international targets
File photo / NZ Herald
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