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Australia and New Zealand Banking Group Limited (NZX: ANZ) 2021 Half Year Results

Wednesday 5th May 2021

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ANZ today announced a Statutory Profit after tax for the Half Year ended 31 March 2021 of $2,943 million, up 45% on the previous half with key drivers including a net credit provision release of $491 million.

Cash Profit for continuing operations, before credit impairments and tax, was $3,941 million, down 10%.

ANZ’s Common Equity Tier 1 Ratio strengthened to 12.4% while Cash Return on Equity increased to 9.7%. The proposed Interim Dividend is 70 cents per share, fully franked.

DIVIDEND & CAPITAL

ANZ’s capital position has further strengthened with a Common Equity Tier 1 Ratio of 12.4% (~12.5% on a pro-forma basis), remaining materially above the Australian Prudential Regulation Authority’s ‘Unquestionably Strong’ benchmark.

A combination of strong capital management, solid earnings and improving conditions provided the Board with confidence to pay an interim dividend of 70cps, up from 35cps at the final 2020 result.

ANZ also announced the Dividend Reinvestment Plan (DRP) will continue to apply for the Interim 2021 Dividend at no discount and that it plans to neutralise the impact of the shares allocated under the DRP.

Further, our capital position provides flexibility to return surplus capital to shareholders. Any decision will balance the importance of capital efficiency against maintaining an appropriately strong balance sheet as we continue to get more clarity around the economic situation.

New Zealand

Provided ~42,000 new home loan accounts, maintaining our position as the leading lender in NZ, while also being the first bank to require a 40% deposit from residential property investors in a step to bring balance to the housing market.

Funds under management for KiwiSaver superannuation at a record level of NZD17.9 billion, up from NZD16.4 billion or 9% during the half.

Acquired 12 new clearing mandates from customers, taking ANZ’s share of NZD wholesale payments to 58%.

ANZ Chief Executive Officer Shayne Elliott said: “Work done over the past five years to simplify our operations, strengthen our balance sheet and de-risk the Group helped us deliver a strong result this half, meaning we are well-placed to continue to support the ongoing economic recovery and customers doing it tough.

“ANZ is in a strong position both financially and operationally. We are well capitalised and our disciplined approach to costs over many years has us well placed to invest in opportunities to grow our business in targeted segments. The work to digitise core processes and platforms continues at pace and this will be more visible to customers towards the end of the year,” Mr Elliott said.

Please see the links below for details

ANZ Half Year Results, Dividend Announcement & Appendix 4D

News Release - ANZ 2021 Half Year Result & Proposed Dividend

ANZ 1H 2021 Results Presentation & Investor Discussion Pack

Transcript of bluenotes interview with ANZ CEO

Transcript of podcast with ANZ Acting CFO & CRO

Source: Australia and New Zealand Banking Group Limited



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