ANZ Bank’s profit jumps to $1.94b on cost cuts and rising revenues
ANZ Bank’s CEO said his transformation plan is on track and touted its first quarter results as proof on Thursday morning.
ANZ Bank has posted a cash profit of $1.94 billion for the quarter ending December 31 - up 17 per cent on the adjusted average of the last six months of 2025.
The bank said its normalised profit jumped as it benefited from a significant cost reduction on a lower headcount and rising revenues.
On a statutory basis, its cash profit climbed 75 per cent for the quarter as it did not include the negative impact of writedowns taken in the comparable period.
Sign up to The Nightly's newsletters.
Get the first look at the digital newspaper, curated daily stories and breaking headlines delivered to your inbox.
By continuing you agree to our Terms and Privacy Policy.ANZ’s chief executive Nuno Matos said the results showed his plan to transform the bank by 2030 was on track.
“Our productivity program aimed at removing duplication and simplifying the bank is well underway, delivering a significant reduction in expenses while growing revenue,” Mr Matos said
“Looking ahead, we continue to be fully engaged in executing our ANZ 2030 strategy. This is the beginning of our five-year journey to become the best bank for customers and shareholders in Australia and New Zealand.”
Shares have jumped 16.5 per cent over the past six months and last fetched $37.20.
More to come.
