By Sydney – ANZ Group Holdings announced that its annual net profit remained unchanged compared to the previous year, despite the impact of higher interest rates on economic activity. The Australian major lender reported a statutory profit of 7.1 billion Australian dollars (US$4.51 billion) for the 12 months ending in September.
Strong Cash Earnings Growth
Cash earnings, a key measure analyzed by experts as it excludes non-core items, saw a significant rise of 14% to reach A$7.41 billion.
Challenging External Environment
ANZ Group Holdings CEO, Shayne Elliott, acknowledged the persistent challenges in the external environment. Despite the difficult conditions, the company focused on strengthening its balance sheet and ended the year with provisions for potential credit losses higher than pre-pandemic levels.
Increased Dividends
The bank declared a final dividend of A$0.94 per share, representing an increase from the previous year’s dividend of A$0.74. The dividend consists of a partially franked payout of A$0.81 and a one-off unfranked dividend of A$0.13.
Robust Capital Position
ANZ’s Common Equity Tier 1 capital ratio, an important indicator of the bank’s ability to withstand financial shocks, improved by 105 basis points to reach 13.3% for the year.
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