Australia and New Zealand Banking Group Limited results for the Financial Year to 30 September 2017 were released yesterday. ANZ New Zealand delivered a statutory profit of NZ$1.78 billion, up 15 per cent on the prior financial year. Cash profit, the bank's preferred measure, turned in an even better performance: NZ$1.86 billion, up 21 per cent on the previous year.ANZ New Zealand's chief executive officer David Hisco said the bank's continued solid performance was due mostly to lending growth and ongoing strong cost management. The result was also buoyed by a lower than normal provision charge, reflecting growth in some parts of the New Zealand economy."We have reduced the number of products from almost 350 in 2012 to offer fewer than 90 in 2017, improving staff efficiency and making life simpler for them and our customers," Mr Hisco said.Expenses decreased eight per cent in FY17, to be below 2010 levels. "That's a remarkable achievement and reflects our team's strong discipline, high productivity and our digital push," he said."The strength in some parts of the economy also meant fewer bad loans to contend with and a more benign credit environment saw the provision charge trend lower."FY17 revenue increased seven per cent to NZ$4.08 billion - comprised of net interest income of NZ$3.08 billion up two per cent and other operating income of NZ$999 million up 26 per cent, reflecting higher markets trading income and valuation gains on derivatives predominantly in the first half.Net interest margin stabilised in the second half of FY17 after a period of contraction caused by increased funding costs and a customer preference for fixed rate home loans.Customer deposits increased six per cent. Also performing well were the bank's KiwiSaver schemes, with almost 735,000 New Zealanders investing a total of over NZ$11 billion of their retirement savings in an ANZ KiwiSaver scheme.The ANZ NZ team was keen to point out that FY17 was a record year for ANZ New Zealand's contribution to the economy, with NZ$680 million in corporate taxes paid. This was more than five per cent of New Zealand's total corporate tax take.