ANZ reports best annual profit in years as transformation plan progresses

Summarised from 2 outlets · Updated 8 Nov, 22:26 · Archive

Australia's fourth-largest bank ANZ reported net profit of $7.27 billion for fiscal 2026, up 23 per cent on the prior year. Its preferred cash profit measure jumped 31 per cent to $7.59 billion in the 12 months to September 30. Chief executive Nuno Matos said the improvement reflected 'disciplined management of margins, capital and costs, and business growth' as the bank made progress on its five-year transformation plan.

Despite the strong results, ANZ increased its total credit impairment charge to $582 million as individual provisions rose by $33 million and collective provisions lifted by $108 million. Matos acknowledged that whilst most Australian retail customers remained ahead of scheduled repayments, 'for some customers, financial pressure did become more evident in the second half'. The bank said it continued to work with customers requiring assistance to find 'appropriate, sustainable support'.

Matos, who joined ANZ in May 2025 and released its 2030 strategic plan five months later, noted that economies across the bank's geographic footprint remained 'relatively resilient' despite geopolitical tensions, wars in the Middle East and Ukraine, and rising global interest rates. Australia has seen five interest rate rises since February.

ANZ reports best annual profit in years as transformation plan progresses — Image: The West Australian

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How it is being reported

ANZ plan delivers with big bank's best result in yearsANZ has boosted full-year profits after making strides on a transformation plan, despite having to lift bad debt provisions.The West Australian · 8 Nov, 21:59
ANZ plan delivers with big bank's best result in yearsANZ has boosted full-year profits after making strides on a transformation plan, despite having to lift bad debt provisions.Perth Now · 8 Nov, 21:59

In this story: ANZ · Nuno Matos · Australia

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