ANZ Group FY24 financial performance

ANZ Group Holdings (ASX: ANZ) has released its financial results for the full year ending 30 September 2024. The company reported a statutory profit after tax of $6,535 million, marking an 8% decline from the previous year. ANZ declared a final dividend of 83 cents per share, partially franked at 70%.

ANZ's strategic focus and outlook

ANZ Group has reported a statutory profit decrease of 8% for FY24, influenced by the acquisition of Suncorp Bank. However, excluding acquisition adjustments, cash profit was $6,921 million. The company experienced growth in home loans, deposits, and its ANZ Plus platform. ANZ aims to simplify its business by enhancing customer service and productivity through platforms like ANZ Plus and Transactive Global. The company is also focusing on improving non-financial risk practices and leveraging technology for productivity gains. ANZ's strong capital position is reflected in a CET1 Ratio of 12.2%, and it continues to deliver significant shareholder returns.

CEO commentary on ANZ's strategic direction

The successful integration of Suncorp Bank has been a highlight, contributing positively to our results. Our simplification strategies and investments in core banking are paying off, especially in institutional banking. ANZ Plus has shown substantial improvement in customer acquisition and deposits. Despite global economic challenges, we have maintained strong credit provisions, liquidity, and funding levels.