Here’s why the ANZ (ASX:ANZ) share price jumped 8% in March

The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price was a strong performer again in March.

The banking giant’s shares climbed 7.7% over the period compared to a 1.8% gain by the ASX 200 index.

This meant that the ANZ share price recorded an impressive first quarter gain of 22%.

Why did the ANZ share price storm higher?

Investors have been buying ANZ’s shares since the release of its first quarter update in February.

That update revealed that for the three months ended 31 December, ANZ achieved an unaudited statutory profit after tax of $1,624 million. This was a 59% increase on the average profit it achieved during the…