ANZ Profit Edges Past Forecast as CEO's Overhaul Gains Traction

The headline numbers

ANZ posted A$7.6 billion in cash profit for the year to September, up 31% and just ahead of consensus at A$7.5 billion. Return on tangible equity reached 11.56%, improving from 10.47% a year earlier.

Cost work showed up too. Operating expenses fell 4% on a constant currency basis, or A$473 million when excluding significant items. Markets revenue slipped 3%. Home lending expanded 4% to A$275 billion, though the share of mortgages originated internally eased slightly.

Management's read and the operating climate

"We have the right strategy for this complex environment," Matos said, adding, "The work we have done to strengthen execution, simplify ANZ and build resilience has created a stronger bank." He also said the results "demonstrate the significant progress we have made through disciplined execution in the first year of our ANZ 2030 strategy."

The operating picture is still mixed. The bank noted the housing slump is pressuring home-lending profits, while rising prices and interest rates are adding stress to household and business balance sheets. Reflecting portfolio growth and emerging risk in that environment, ANZ increased its provision charge to A$222 million, nearly double the prior year.

Smart investors pay attention to evolving tools that can quietly sharpen their edge. We're hosting our first ever investor livestream on 11/17 to show you how to use ChatGPT and Claude to invest like a pro, hosted by Briefs Finance CEO Jaspreet Singh. Save your seat.

What it means for your portfolio

Matos said Australian retail customers remain broadly resilient, with most ahead on repayments, though financial pressure picked up for some in the second half. He called 2027 a "pivotal" year and said the plan will direct substantial funding toward growth initiatives.

In plain English: ANZ is trimming costs and boosting returns while bracing for a tougher credit cycle. Watch how the provision build, expense discipline and loan growth track against that 2027 investment push.

Keeping perspective and learning new approaches helps investors find consistent advantages over time. On 11/17, our CEO Jaspreet Singh goes live for our first ever investor livestream on how to use ChatGPT and Claude to invest like a pro. Register to join him.