ANZ has reported a statutory profit after tax of $3.32 billion for the half-year to 31 March 2018, up 14 per cent on the prior corresponding period.
The bank's cash profit on a continuing basis was $3.49 billion, up 4 per cent on the prior corresponding period.
ANZ's return on equity increased 32 basis points to 11.9 per cent, with cash earnings per share up 4 per cent to 119.4 cents.
The bank's common equity tier 1 (CET1) ratio was 11 per cent, up 91 basis points.
Commenting on the result, ANZ chief executive Shayne Elliott said the banks has "increased the allocation of capital to our higher performing businesses".
"We are now benefiting from a more focused organisation with sector-leading capital and improving returns," Mr Elliott said.
"While we expect this trend to continue, we have needed to manage additional regulatory costs, softer industry revenue growth and the impact of the bank tax.
"We must also respond comprehensively to the very real concerns that the royal commission identifies," he said.