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ANZ cash profit jumps by more than 30% to $7.6 billion
ANZ CEO Nuno Matos said the huge jump in profit came after a year of "disciplined" cost savings.
- ANZ bank has posted a $7.6 billion full-year cash profit, up 31 per cent and beating most analysts expectations.
- The bank also reported a statutory profit of $7.27 billion, which includes one-off costs such as the redundancies of more than 3500 staff.
- ANZ CEO Nuno Matos said cost discipline by the bank meant it was leaner and more ready to respond to an uncertain economic environment.
ANZ has posted its full-year results, revealing its cash profit has soared by more than 30 per cent to $7.6 billion.
The bank said its cash profit, which strips out one-off costs, rose 31 per cent to $7.591 billion, while its statutory profit rose 23 per cent to $7.27 billion.
ANZ CEO Nuno Matos said the huge jump in profit came after a year of “disciplined” cost savings.
“We have also made significant and sustained progress in materially simplifying the organisation, realising a productivity benefit of $902 million, exceeding the $875 million of gross cost savings we foreshadowed at the first half results,” he said.
In September 2025, ANZ announced it would slash 3500 roles from the business, as part of a 12-month restructure of the bank.
“A year ago we laid out a clear strategic plan, ANZ 2030. We committed to a set of financial targets and transparently reporting on our progress with consistent disclosures,” he said.
“The results we are announcing today demonstrate the significant progress we have made through disciplined execution in the first year of our ANZ 2030 strategy.
“Our transformation is happening, and we have momentum.”
Matos noted that the financial year came amid financial uncertainty.
“In the last year the external environment has become even more volatile, shaped by geopolitical tensions, energy price shocks and rapid technological change,” he said.
“Competition for capital to fund data centres, government spending and the energy transition has intensified, with this expenditure super-cycle, combined with inflationary supply-side shocks, driving interest rates higher globally.
“Against this backdrop, the economies across our geographic footprint remain relatively resilient.”
ANZ reported that its integration of Suncorp Bank will be fully realised by June 2027, uniting almost 8 million customers under one brand.
Earlier reporting by The Money Edition revealed that some Suncorp customers may see their minimum mortgage repayments rise under the merger.
ANZ declared a final dividend of 83 cents, taking the total for the year to $1.66, in line with fiscal 2025.