A 10 Percent Profit Slide Triggers ANZ to Cut 3,500 Jobs

Signage for Australia and New Zealand Banking Group Ltd. (ANZ) is seen at a branch in Sydney, Australia on Feb. 26, 2024. Lisa Maree Williams/Getty ImagesANZ has reported a steep fall in full-year profit after being hit with a $240 million penalty over systemic misconduct, dragging its statutory profit down by 10 percent to $5.9 billion for the year to Sept. 30.The result, released on Nov. 10, also shows a 14 percent decline in cash profit, reflecting the impact of the settlement with the corporate watchdog and ongoing restructuring efforts inside the bank.