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Highlights

  • ANZ posts $3.57 billion half-year cash profit, narrowly beating analyst forecasts.

  • Revenue hits a record $11 billion, boosted by Suncorp Bank’s full-half contribution.

  • Bank declares steady interim dividend of 83 cents per share as growth spans all divisions.

Australia and New Zealand Banking Group (ASX:ANZ) has posted a modest rise in half-year cash profit and record revenue, underpinned by solid growth in lending and deposits across all business divisions. 

For the six months ending 31 March, ANZ reported a cash profit of $3.57 billion. This result edged slightly higher than the $3.55 billion posted in the same period last year and surpassed market expectations of $3.53 billion, based on consensus estimates compiled by Visible Alpha.

Revenue surged to a record $11 billion for the half, significantly buoyed by the inclusion of Suncorp Bank’s operations following the completion of the acquisition. This marks the first full half-year in which Suncorp Bank’s results have been fully consolidated into ANZ’s financials.

The bank also announced an interim dividend of 83 cents per share, consistent with last year’s payout and in line with analyst expectations. 

ANZ attributed its result to coordinated growth across all key segments. The home loan business experienced steady expansion, while the commercial and institutional banking divisions saw higher lending activity. Deposit growth was also a major contributor to the uplift in earnings. However, the bank’s net interest margin—a key profitability measure—slipped slightly to 1.56%, down from 1.58% in the second half of the previous year.

Outgoing Chief Executive Officer Shayne Elliott acknowledged the strength of the half-year performance but cautioned that external conditions remain volatile. “We’re mindful that the global environment is uncertain and we expect periods of increased volatility,” he said. “However, our strong balance sheet and consistent performance across all divisions put us in a solid position to navigate future challenges.”