Australian banking and financial services company ANZ has reported a cash profit of A$7.4bn ($4.7bn) for the full year ended 30 September 2023, a 14% rise compared to A$6.51bn ($4.1bn) for the full year ended 30 September 2022.
The company reported a statutory profit after tax of A$7.1bn for the full year ended 2023, which is almost unchanged compared to the previous year.
ANZ reported a profit before credit impairment and tax of A$10.75bn for the full year 2023, a 20% increase compared to A$8.96bn for the full year 2022.
The Australian lender announced a dividend of A$0.175 per share for the full year 2023, a 20% rise compared to A$0.146 for the full year 2022.
ANZ CEO Shayne Elliott said: “This is a strong annual result, with record revenue and cash profit following several years of transformation, enabling us to continue to support our customers and improve their banking experience.
“We continued to strengthen our balance sheet and closed the year with provisions for potential credit losses higher than prior to the pandemic, and with more capital than ever before.
“This is critical as we enter a period of continued high interest rates, rising costs and geopolitical tensions. While our first half was stronger, the second half delivered an outstanding revenue and profit result, demonstrating the benefits of our diversified franchise.”
ANZ reported a Return on Equity (RoE) of 10.9% for the full year 2023, an increase of 54bps compared to 10.4% for the full year 2022.
The company reported Gross Loans and Advances (GLAs) of A$710.6m for the full year 2023, a 5% rise compared to A$676m for the previous year.
The Australian lender reported a Total Risk-Weighted Assets (RWAs) of A$433.3 for the full year 2023, a 5% decline compared to A$454.7 for the full year 2022.
The bank reported Customer Deposits of A$647.1m for the full year 2023, a 4% increase compared to A$620.4m for the full year 2022.
ANZ reported a Common Equity Tier 1 Ratio (CET1) of 13.3% for the full year 2023, which increased by 105bps compared to 12.3% for the previous year.
In July last year, ANZ agreed to acquire Suncorp Bank to expand its retail and commercial businesses, which was rejected by the Australian competition watchdog (ACCC) in August this year.
ANZ has filed an application with the Australian Competition Tribunal for review of the ACCC’s decision, with a decision expected in February 2024.
