SYDNEY, Feb 16 (Reuters) - Australia and New Zealand Banking Group on Wednesday reported a 4 percent rise in first quarter unaudited cash profit but warned slowing growth and heightened volatility in Asia could lead to a higher credit charge for the current half-year. Australia’s No. 4 lender said unaudited cash profit stood at A$1.85 billion ($1.31 billion) for the quarter ended Dec. 31. It did not give a year-ago figure but only the percentage increase in its trading update, which does not provide as much detail as a full earnings statement. It expects a total group credit charge at over A$800 million in the six months to March 31 compared to a market consensus of A$735 million. Gross impaired assets for the half will likely be in-line with the prior half despite falling in the December quarter. ANZ is the only one of Australia’s major four banks to have made a big push in Asia although new CEO Shayne Elliott is now increasing its focus on the more lucrative mortgage market at home where growth is faster and returns attractive. ($1 = 1.4094 Australian dollars) (Reporting by Swati Pandey; editing by Adrian Croft)
ANZ Bank - 1Q15 Westpac Banking Corporation - 2Q14 National Australia Bank, Australian Prudential Regulation Authority and Commonwealth Bank.