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Highlights

  • ANZ’s statutory profit dropped 8% YoY to NZD 6.535 billion.
  • ANZ’s home lending increased by 4% in 2024.
  • ANZ’s share price surged by over 10% in the past year, closing at NZD 34.55 per share on 13 February 2025.

As ANZ Group Holdings Limited (NZX:ANZ), a non-operating holding company, is making strategic adjustments to achieve long-term financial sustainability in FY25 by driving value from Suncorp Bank and focusing on enhancing platform excellence and productivity.

Recently, the company announced organisational changes aimed to streamline operations, ensuring a more responsive and effective structure. This includes the appointment of a new Group Executive Operations, who will oversee ANZ’s Group Capability Centre infrastructure, property, and procurement teams.

Despite challenges in the housing sector, ANZ’s home lending increased by 4% in 2024, demonstrating resilience amid a quieter housing market and heightened competition.

ANZ’s performance in FY24

In the financial year 2024 (FY24), the company's statutory profit fell to NZD 6.535 billion, marking an 8% YoY decline from the previous period. Similarly, cash profit dropped 9% YoY to NZD 6.725 billion, signalling pressures on overall earnings.

During the reported period, return on equity, a crucial profitability indicator, also weakened, dropping 131 basis points to 9.7%, suggesting reduced efficiency in generating shareholder returns. Additionally, cash earnings per share saw a notable decline of 23 cents, settling at 224.3 cents, impacting investor value.

Outlook

The company is advancing its strategic focus by prioritising ANZ Plus and Transactive Global, two key platforms aimed at enhancing customer service, streamlining operations, and improving overall efficiency. Through this simplification, the organisation seeks to optimise costs, boost productivity, and unlock new growth opportunities.

Additionally, the company is leveraging Generative AI to drive innovation and equip both employees and customers with more advanced tools. A significant step in this direction is the establishment of the AI Immersion Centre, launched earlier this year in partnership with Microsoft, reinforcing its commitment to technological advancements and smarter, more efficient solutions.

Share performance of ANZ

ANZ shares closed at NZD 34.55 per share on 13 February 2025. Over the past year, ANZ’s share price has increased by over 10%, while in a month, it has surged by nearly 7%.

52-week high of ANZ is NZD 32.80, recorded on 19 November 2024 and 52-week low is NZD 27.22, recorded on 7 August 2024.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 13 February 2025. The reference data in this report has been partly sourced from EODHD/Others.