ANZ has made a record annual profit despite what it calls “a constrained environment” and higher bad debts.

But figures showed little growth with after tax profit for the 2015 financial year up 3 per cent to $7.5 billion, slightly more than expected by analysts.

Cash profit was up 1 per cent at $7.2 billion, slightly less than predicted.

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Earnings per share was flat at 260.3 cents because of the bank’s capital raising in the second half of the year.

Customer deposits rose 10 per cent over the year and loans and advances increased 9 per cent.

Charges for loans that were written off increased 22 per cent to $1.2 billion.

Shareholders will get a final dividend payout of 95 cents a share, fully franked.

Total dividend for the year is 181 cents per share, fully franked, a rise of 2 per cent.

Outgoing ANZ chief executive Mike Smith said it was a good result.

“We have produced another record result in FY15,” he said.

“In a constrained environment, we have continued to see growth in our core customer franchise in Australia, in New Zealand and in key Asian markets, partly offset by the effect of macro-economic headwinds on the International and Institutional Banking Division.”