ANZ FY24 financial report overview

ANZ Group Holdings (ASX: ANZ) announced its financial results for the year ending 30 September 2024. The report shows a statutory operating income of AUD 20,547 million, with a statutory profit of AUD 6,535 million, reflecting an 8% decrease. The company completed the acquisition of Suncorp Bank, impacting its financial metrics and strategic direction.

ANZ's strategic moves and future outlook

ANZ Group Holdings' FY24 financial report underlines several key strategic actions and financial outcomes. The acquisition of Suncorp Bank was a major highlight, enhancing ANZ's portfolio with AUD 70.9 billion in net loans. Despite an 8% drop in statutory profit and a 9% decline in cash profit, the company managed to maintain its dividend payout, announcing a final dividend of 83 cents per share. ANZ's focus on strategic initiatives and investment in technology was evident with AUD 1,543 million spent in these areas. The financial report also details the impact of market conditions on profitability and outlines the bank's strategy for future growth amidst economic challenges.

Executive insights on ANZ's performance

The acquisition of Suncorp Bank marks a significant milestone in our strategy to enhance our retail and commercial capabilities. Despite challenging market conditions, we remain committed to delivering value to our shareholders through disciplined management and strategic growth initiatives.