ANZ Bank Unveils Share Buyback as Profit Misses Estimates | Mint

(Bloomberg) -- ANZ Group Holdings Ltd. announced a A$2 billion ($1.3 billion) buyback as first-half earnings missed estimates, continuing the trend of Australian banks handing investors a sweetener as profits decline. Cash profit fell 7% to A$3.55 billion in the six months to March 31 from a year earlier, the Melbourne-based lender said in a statement Tuesday. That was short of the A$3.63 billion average projection in a Bloomberg survey of analysts. The bank’s shares fell as much as 2.7% …