Key Highlights

• The company's published calendar lists the full-year announcement for 9 November, with the final Dividend ex-date on 12 November, the Record Date on 13 November and payment on 18 December.

• The result is the first full-year read on the "ANZ 2030" strategy, which Matos set out in October 2025.

• Management has targeted a cash return on tangible Equity (RoTE) heading towards 12% by FY28 and 13% by FY30, together with a cost-to-income ratio in the mid-40s by FY28.

• In the half to 31 March 2026 it held about $822 billion of net loans and $771 billion of customer deposits.

What should shareholders look for when ANZ Group Holdings (ASX:ANZ) reports its full-year result on Monday 9 November 2026? The short answer is evidence that the bank's reset under chief executive Nuno Matos is converting cost cuts and a simpler structure into higher returns, while margins hold up in a competitive Mortgage market.

Why this result matters

ANZ's financial year ended on 30 September 2026. The company's published calendar lists the full-year announcement for 9 November, with the final dividend ex-date on 12 November, the record date on 13 November and payment on 18 December. Any date changes would be notified to the ASX.

The result is the first full-year read on the "ANZ 2030" strategy, which Matos set out in October 2025. Management has targeted a cash return on tangible equity (RoTE) heading towards 12% by FY28 and 13% by FY30, together with a cost-to-income ratio in the mid-40s by FY28. Those are company targets, not forecasts.

What ANZ does

ANZ is one of Australia's four major banks and also has a large New Zealand franchise. Its Earnings come mainly from net interest income, the gap between what it earns on loans and pays on deposits and wholesale funding, supplemented by fees and trading income.

The group reports across Australia Retail, Business and Private Bank, Institutional, and New Zealand, with Markets activity running through Institutional. In the half to 31 March 2026 it held about $822 billion of net loans and $771 billion of customer deposits.

The latest reported numbers

The latest full set of reported figures is the first-half result for the six months to 31 March 2026, released on 1 May. Cash profit was $3,780 million and statutory profit $3,650 million. Compared with the second half of FY25, which included significant items, cash profit rose 70%, or 14% excluding them.

Operating expenses were $5,534 million, down 22% (down 9% excluding significant items), and the cost-to-income ratio was 49.4%. Cash RoTE was 11.6%. The Interim Dividend was 83 cents per share, unchanged, with franking lifted to 75% from 70%. The Common Equity Tier 1 (CET1) ratio was 12.39%.

The third-quarter trading update on 13 August covered the three months to 30 June and was unaudited. Cash profit was $1.90 billion, up 1% on the first-half quarterly average, or $1.98 billion (up 5%) before a NZ$125 million provision linked to a New Zealand class action. Group net interest Margin was 1.54%, up 1 basis point, and CET1 reached 12.51%.

Margins and competition

Margin is probably the most scrutinised line. In the August call, management said a "replicating portfolio" of hedges had delivered 4 basis points of an expected 7 basis point tailwind, with roughly 3 more expected over the following twelve months. It also said competition on asset margins and mix shifts would weigh on the fourth quarter.

Mortgage competition had risen in the preceding months. ANZ said it expected to grow at or around system in the second half, and that application values were supported by the First Home Buyer Guarantee Scheme; excluding the scheme they were lower. Institutional margins were trending modestly lower, and New Zealand housing competition had also pressured margins.

The full-year margin discussion should show whether lending growth is coming at the expense of pricing.

Costs, restructuring and Suncorp Bank

The turnaround rests heavily on costs. ANZ announced about 3,500 Job reductions in September 2025, and said that 78% of those roles had exited by the end of April 2026. For FY26 it has guided to expenses about 5% below the FY25 base of $11.85 billion excluding significant items, and in August it maintained that guidance. It cited a gross cost savings target of $875 million for FY26.

The Suncorp Bank integration is the other pillar. Customer migration is targeted for June 2027, with estimated synergies of $500 million and full run-rate benefits in FY29. In August management reported no notable customer attrition, though Suncorp balances fell 1% in the quarter, which it attributed mainly to repaid Treasury term deposits being replaced with cheaper wholesale funding.

A single customer front-end for Retail and Small Business customers is scheduled for September 2027. The company's FY26 progress targets quoted in August were 57% for the Suncorp migration and 45% for the front-end; the result may show whether those were met.

Credit quality and capital

Asset quality looked sound at the last update. Non-performing exposures were 0.55% of total Credit exposure, and the individual provision charge was a modest $65 million in the third quarter. The collective provision balance was $4.48 billion, which management said was about $2 billion above its base case scenario, including an overlay for Middle East conflict risks flagged at the half.

A CET1 ratio above 12.5% gives the board flexibility, although in May the company ceased about $800 million of the remaining buy-back.

Risks and uncertainties

Several uncertainties sit around the numbers:

• Regulatory and operational remediation. ANZ continues its Root Cause Remediation Plan for non-financial risk, and further costs or supervisory actions cannot be ruled out.

• New Zealand litigation. ANZ has appealed the High Court ruling that led to the NZ$125 million provision, so the final outcome is uncertain.

• Execution. Delivering savings, migrating Suncorp customers and rebuilding the front-end all at once carries operational risk.

• Macroeconomic and geopolitical conditions. Management itself highlighted these for Australia and New Zealand.

• Competition. Sustained mortgage pricing pressure could erode the margin gains described above.

What to watch on 9 November

Beyond headline profit, readers may focus on the full-year cost outcome against guidance, second-half margin, the final dividend and franking, Capital and any buy-back, and FY27 commentary on costs and lending. The third-quarter figures were unaudited, so the audited full-year numbers may differ.