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Australia and New Zealand Banking Group (ASX:ANZ) share price up on results release

The Australia and New Zealand Banking Group (ASX: ANZ) share price is on watch today after the  S&P/ASX 200 banking giant released its full-year results.

At the time of writing the ANZ share price had jumped up 1.8% to $26.13 – a welcome rise for punters who have endured the stocks steadily drop from a mid-August 52-week high of $30.28.

ANZ announced a flat statutory profit after tax at $6.4 billion with cash profit down 16% to $5.8 billion and a final, fully-franked, dividend of 80c per share declared.

But the Reserve Bank of Australia has been quoted saying the Banking Royal Commission would likely leave permanent scars on profit capacity for the big four.

While ANZ maintains its results are strong amid volatile industry conditions, the Royal Commission has no doubt impacted shareholder confidence in the bank, with conditions also weighing heavily on National Australia Bank Ltd. (ASX: NAB), Commonwealth Bank of Australia (ASX: CBA) and Westpac Banking Corp (ASX: WBC).

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Motley Fool contributor Carin Pickworth owns shares of Australia & New Zealand Banking Group Limited, Commonwealth Bank of Australia, and National Australia Bank Limited. The Motley Fool Australia owns shares of National Australia Bank Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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