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 7 May 2024:

ANZ today announced a Statutory Profit after tax for the half year ended 31 March 2024 of $3,407 million. Cash Profit was $3,552 million, down 1% on the previous half.

ANZ’s Common Equity Tier 1 Ratio increased to 13.5% and Cash Return on Equity excluding capital retained to purchase Suncorp Bank was 10.7%.

The proposed Interim Dividend is 83 cents per share (cps), partially franked at 65%.

ANZ intends to buy-back up to $2 billion of shares on-market as part of its capital management plan.