ANZ

Combined cash profits from Australia’s big four banks increased 6.5 per cent to $28.5 billion in FY22, delivering a bumper year ahead of a looming deterioration in economic conditions.

The integration of its marquee business acquisitions has helped the nation’s largest provider of financial advice services turn the corner.

Australia and New Zealand Banking Group will become the third largest domestic home lender after acquiring the banking division of competitor Suncorp Group Ltd for $4.9 billion.

If there was one word to summarise the relationship between the big four banks and interest rates, it would be volatile. In March, the banks rallied after the Reserve Bank of Australia shifted its dovish rhetoric and signalled imminent rate rises to combat inflation. Now with the RBA acting on those increases by most recently passing a 50 basis point increase, big four shares are tumbling over themselves.

ANZ Bank – 218% profit increase ANZ shares were lower after delivering a slight “miss” on earnings. ANZ’s cash profit rose 218%, to $2.99 billion, which came in at below expectations, but the dividend was better-than-expected. Management declared a 70 cents-a-share dividend, up from 25 cents a year ago, and just below the pre-pandemic final…

With bank reporting season underway, it’s important to know what to look for when assessing the big banks. The days of looking solely at dividend payout ratio and price/earnings ratio are long gone. We live in a global world, with cross-border comparisons more important than ever. The first cab off the rank every year is…

Seventh consecutive monthly gain, Beach Energy smashed, ANZ takes $817m profit hit The ASX200 (ASX:XJO) finished Friday on a weaker note, down 0.8% and 0.5% for the week, however was able to deliver a seventh consecutive monthly gain, finishing 3.5% higher for the month of April. The news of the day was the capitulation in Beach Energy’s (ASX:BPT) share…

The chief executive elect of AMP Ltd Alexis George, once a financial services giant in size and stature – boasting for a time the advertising slogan: ‘We will always be there’ – faces the biggest task of her career. Her track record could not be better. The advertising slogan sounded good, if overly ambitious, for…

May is shaping up to be one of the most important months for dividend-focused Australian investors, with bank reporting season beginning on May 3, with Westpac’s interim result. The unexpected strength of the sector was brought to light this week after two of the three main ratings agencies upgraded their views on the sector, on…

Second quarter off to strong start, AMP’s CEO departs, Boral announces buyback The ASX200 (ASX:XJO) finished the week and commenced the new quarter on a strong note, finishing 0.5% higher with both IT, up 2.3%, and materials, 1.3%, contributing. It was a day for stock specific news with the worst kept secret in finance being confirmed, AMP’s CEO Francesco…