ANZ profit slips 7% despite strong agricultural sector
Net profit for the year after tax at the country's largest bank was just over $2.35 billion.
Australia and New Zealand Banking Group reported a substantial increase in second-half 2026 profit, driven by its ANZ 2030 strategy. The lender saw a 23% rise in statutory profit and a 10% increase in cash profit to AUD 7.6 billion, with earnings per share climbing 30% to AUD 2.53. ANZ also raised its final dividend, citing improving cost and capital metrics.
The bank's shares remained relatively stable at $27.71, near the top of their 52-week range, and were deemed undervalued by InvestingPro analysis. ANZ's performance was broad-based, with revenue up 3% on a constant-currency basis and a strong deposit base. The bank remains on track with its transformation, including Suncorp Bank integration and digital advancements, while keeping FY 2027 guidance steady.
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