ANZ lights a fire in Asia

The bank's result strongly vindicates Mike Smith’s pursuit of diversification in Asia -- though its continual reduction of bad debt charges may be drawing near its close.

Six months ago ANZ Banking Group chief executive Mike Smith went to some lengths to extoll the virtues of his super-regional strategy to a doubting market. Today, releasing the bank’s first-half results, he really didn’t need to. The results spoke for themselves.

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