The result brings the profit total of the big four banks to $32 billion with the Commonwealth well ahead at more than $10 billion and the others above $7 billion.

ANZ said it would pay a final dividend of 94 cents a share with 81 cents partially franked and a one-off unfranked dividend of 13 cents a share.

Cash earnings for the bank were $7.4 billion, an increase of 14 per cent.

Chief executive Shayne Elliott said it was a strong result but provisions for potential credit losses were higher than before the pandemic.

He also said the bank had prevented about $100 million in scams this year.

“Looking ahead we will continue to manage costs to create capacity for further investment in ANZ Plus, growing out commercial business and enhancing our sustainability currenty and payments platforms,” he said.

“The external environment is likely to remain challenging. The full impact of higher interest rates is expected to continue to impact economic activity as well as household and business budgets.

“Despite these challenges, we expect the economy will be supported by strong household savings, resilient housing markets, low unemployment, solid business investment intentions and strong migration to Australia and New Zealand.”