- ANZ today announced a Statutory Profit after tax for the half year ended 31 March 2025 of $3,642 million, up 16% on the previous half.
- Cash Profit[1] was $3,568 million, up 12% on the previous half.
- ANZ's Common Equity Tier 1 Ratio was 11.8% and Cash Return on Equity was 10.2%.
- The proposed Interim Dividend is 83 cents per share, partially franked at 70%.
Overview of financial performance
CEO commentary
ANZ Chief Executive Officer Shayne Elliott said: "Our strong performance has again been driven by our continued momentum across each of our divisions, demonstrating the benefits of a stable, consistent strategy combined with sensible, targeted investment.
"We have delivered record half year revenues. This highlights both the strength of our franchise and the step change in our earnings from the inclusion of the first full half of Suncorp Bank's earnings.
"As I hand over to our incoming CEO Nuno Matos, the bank is well placed for the future. Our strong balance sheet, along with our diversified portfolio, leave the bank well placed to navigate ongoing volatility.
"As part of our dual platform strategy, ANZ Plus reached one million customers in March, with deposits surpassing $20 billion. We are also pleased that more than half of our ANZ Plus retail customers consider ANZ their main bank.
"Suncorp Bank reported a strong performance relative to its regional peers. Taking advantage of joint scale has allowed faster targeted growth at better returns. Cost synergies have now started to be realised earlier than anticipated at the time of acquisition.
"The future of global conditions is uncertain and there will continue to be periods of increased volatility. It is times like these that our strong balance sheet, including capital, provisions and liquidity, is critical. The portfolio derisking over several years adds further to our balance sheet strength, and we have experienced another half of extremely low credit losses of only 4 basis points. This strength will allow us to navigate the uncertainty - and importantly continue to support our customers.
"It also means we are well positioned for the opportunities that will flow from increased volatility. Indeed, our Markets business continues to perform strongly. Our diversified business is a key strength, and we will continue to follow our customers as they adjust their strategy and seek to move capital, taking advantage of our global reach, quality customers and simpler business.
"Work is underway to strengthen our non-financial risk management practices and risk culture to meet the Australian Prudential Regulation Authority's expectations and to embed non-financial risk management practices consistently across the bank.
"While initial interest rate relief was welcomed by retail and commercial customers, we know many continue to face challenges. Generally households remain remarkably robust and resilient, with strong balance sheets the norm for our customers in both Australia and New Zealand. For those who need assistance, our teams stand ready to help with tailored support.
"It's been a great honour to lead the bank for the last 10 years and I am confident that ANZ today is a simpler, stronger and better bank as I hand the mantle over to our new Chief Executive.
"Over this time we have focused our strategy, strengthened the balance sheet, tightened customer selection, delivered significant productivity benefits, improved capital efficiency, reduced risk intensity and made a material shift in our culture. In doing so, we returned about $48 billion to shareholders, while retaining sufficient capital to build a better bank for the long term.
"I am grateful to my colleagues across the world who work to support our customers and the community every day and I wish Nuno the very best as he leads the next phase of ANZ's journey," Mr Elliott concluded.
Half year division drivers and commentary
Credit quality
The total credit impairment charge for the first half was $145 million, comprising:
- a collectively assessed provision (CP) release of $14 million.
- an individually assessed provision (IP) charge of $159 million.
Foreign exchange movements more than offset the minimal CP release to take our total CP balance at 31 March 2025 to $4,280 million.
Dividend & capital
ANZ Banking Group's capital position remains strong, with a Common Equity Tier 1 (CET1) Ratio of 11.8%.
The Board has proposed a Interim Dividend of 83 cents per share, partially franked at 70%.
ANZ has completed $1.2 billion of the previously announced $2 billion on market share buyback. ANZ today filed a Form 281 with the Australian Securities and Investments Commission to extend the buyback period for a further 12 months. Given the increased uncertainty regarding global conditions, ANZ will adopt slightly more conservative capital settings, including the flexibility to adjust the pace of the remaining buyback.[2]
Interviews with relevant executives, including Shayne Elliott, can be found at anz.com.au/bluenotes
