ANZ Group Holdings Limited Analysis

Overview

ANZ traces its origins to the Bank of Australasia, which opened its first office in Sydney in 1835 having been originally established in the United Kingdom by Royal Charter that year. The bank established a Melbourne office in 1838, where ANZ's world headquarters is located today at 833 Collins Street, Melbourne.

ANZ presently operates in more than 32 markets across Australia, New Zealand, Asia, Pacific, Europe, America and the Middle East. It provides a wide range of products and services, principally comprising banking, financial markets and other financial products and services for retail (personal and private bank) and business (small and medium business, corporate and institutional) customers. ANZ’s main business divisions comprise Australia Retail (servicing retail customers across Australia), Commercial (servicing business and private banking customers across Australia), Institutional (servicing global institutional and business customers across multiple markets) and New Zealand (servicing retail and commercial/business customers across New Zealand).

Performance

The following information was extracted from ANZ Group Holdings Limited's half year results, released 01 May 2026:

Key points:

• All comparisons are against the six months to 30 September 2025 and on a cash basis unless noted otherwise.

• Cash profit of $1,238 million, up 2%

• Statutory profit of $1,259, flat versus the prior period due to lower gains from economic hedges

• Revenue up 2% reflecting lending and deposit growth in part offset by margin compression

• Expenses down 3% driven by seasonality, productivity benefits and lower restructuring expenses

• Credit impairment charge of $22 million compared to a release of $20 million for the previous period

• Customer deposits up 4% and net loans and advances up 2%

• Funds under management down 1% to $41.3 billion

ANZ New Zealand (ANZ NZ) today reported a cash2 net profit after tax (NPAT) of $1,238 million for the six months to 31 March 2026, up 2% on the $1,208 million recorded for the six months to 30 September 2025.

Statutory NPAT was $1,259 million, flat compared to the prior period due to lower gains from economic hedges. ANZ Bank New Zealand (ANZ Bank NZ) Chief Executive Officer Antonia Watson said the result comes at a time of heightened global uncertainty.

“Prior to the war in Iran, New Zealand was in the early stages of economic recovery.

“Confidence was beginning to return as lower interest rates flowed through to customers, with higher commodity prices and strong farm-gate returns supporting the farming sector and rural economy.

“Strengthened balance sheets and savings across households, businesses, and farms helped support spending and investment.”

ANZ NZ’s half-year performance was shaped by the lift in economic activity - net loans and advances increased by 2% and customer deposits grew by 4%. However, revenue was constrained by ongoing margin pressure that saw net interest margin decline by 5 basis points.