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ANZ Bank Shares Enjoy Best Day Since 2020 as Cost Cuts Show

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SYDNEY—ANZ Group shares are on course for their best day since 2020 after the country’s fourth-largest lender cut its first-quarter costs by more than analysts had expected.

ANZ on Thursday reported an unaudited cash profit for the three months through December of 1.94 billion Australian dollars, equivalent to US$1.37 billion. That was 6% higher compared with the same period a year earlier.

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