(Reuters) -Australian lender ANZ Group reported a 14% drop in its full-year cash earnings on Monday, hurt by a significant one-time charge related to job cuts and a regulatory settlement, while competition and rate cuts squeezed margins.

ANZ has faced a turbulent year, absorbing a record regulatory penalty, thousands of job cuts and mounting integration costs from its Suncorp Bank acquisition, as new CEO Nuno Matos pushes to streamline its core business units and repair its risk culture.

The lender took an A$1.11 billion ($721.28 million) post-tax profit hit, including A$414 million from 3,500 staff redundancies, and A$264 million in penalties to settle its lawsuit with the securities regulator.

ANZ, the country’s fourth-largest lender by market value, posted cash profit of A$5.79 billi

See Full Page