NZE:ANZ

ANZ Group's Fiscal Q3 Cash NPAT Supported by Low Credit Impairment Charge, Jefferies Says

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) reported solid fiscal third-quarter results, with its cash net profit after tax of AU$1.9 billion supported by a low bad and doubtful debts charge, Jefferies said in a Thursday note.However, with replicating portfolio benefits nearly exhausted and competition on the rise, costs are now one of the company's most important earnings levers, the investment firm said.The company's management confirmed previous comments that the replicating portfolio had around 7 basis points of embedded gains, "which would suggest limited support going forward," the equity research firm said.The bank's Australian mortgage application values in the fiscal third quarter were broadly flat from the previous three-month period, but excluding the impact of the government's 5% deposit scheme, application values fell 5%.Jefferies upgraded its EPS estimates on ANZ Group for fiscal 2026 and fiscal 2027 by 2% each on higher volumes and lower near-term bad debts.It maintained a hold rating on ANZ Group while raising the price target to AU$34.10 from AU$33.71.The bank's Australia shares gained 4% and its New Zealand shares rose 5% in recent Thursday trade.

NZX Midday Sector Update: Finance Advances, Industrial Services Slide

Finance shares gained the most on New Zealand's Exchange, rising over 2% by midday Thursday.ANZ Group Holdings (ASX:ANZ, NZE:ANZ) gained almost 4% in recent trade.The bank reported Thursday total capital of AU$98.36 billion for the third quarter ended June 30, down from AU$96.83 billion in the same period in the previous year.Meanwhile, the industrial services sector fell almost 5%.Ventia Services Group (NZE:VNT, ASX:VNT) shares fell about 5% in recent trade.

ANZ Group Says Home Loan Applications Fell 12% Following May Budget

ANZ Group Holdings' (ASX:ANZ, NZE:ANZ) value of new home loan applications fell 12% between the Australian federal budget announcement in May and the end of July, according to a Thursday filing with the Australian bourse.The bank said its mortgage application value declined 5% in the fiscal third quarter from the linked three-month period, per the filing.Both readings exclude the impact of the Australian government's 5% deposit scheme.The company's Australian shares rose 3% in recent Thursday trade, while its New Zealand shares gained 4%, after it reported fiscal Q3 results.

ANZ Group Holdings Reports Lower Total Capital in Q3, CET1 Rises

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) reported total capital of AU$98.36 billion for the third quarter ended June 30, down from AU$96.83 billion in the same period in the previous year, according to a Thursday Australian bourse filing.Common equity tier 1 was AU$59.31 billion, up from AU$56.94 billion last year, while the liquidity coverage ratio was over 131%, down from about 134%.

ANZ Group Fiscal Q3 Cash Profit Rises; Operating Income Declines

ANZ Group Holdings (ASX:ANZ) logged AU$1.901 billion in cash profit for fiscal Q3, up 2% from a year ago, a Thursday filing showed.For the three months ended June 30, operating income was AU$5.607 billion, down 1%, the dual-listed bank holding company added.It also reported common equity tier 1 ratio of 12.51% as at June 30, up 12 basis points from the end of March.The company remains on track to meet its return on tangible equity and cost-to-income targets as it works to reduce full year cost by 5%.

ANZ Group Holdings Posts Fiscal Q3 Cash Profit of AU$1.9 Billion, Operating Income of AU$5.61 Billion

CDL Investments New Zealand Unit Enters NZ$20 Million Credit Facility With ANZ Bank

CDL Investments New Zealand's (NZE:CDI) CDL Land New Zealand subsidiary entered into a new NZ$20 million flexible credit facility with ANZ Group Holdings (ASX:ANZ, NZE:ANZ) unit ANZ Bank New Zealand, according to a Friday New Zealand bourse filing.The facility is for property portfolio funding and has a term of 24 months, per the filing.CDL Investments shares fell nearly 2% in recent Friday trade.

ANZ Group Takes Full Ownership of Worldline Australia

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) completed its acquisition of Worldline's 51% stake in Worldline Australia for an enterprise value of AU$89 million to take full ownership of the merchant payments business, according to a July 31 filing with the Australian bourse.Around 270 Worldline Australia employees will join ANZ Group as part of the deal, with no change to Worldline Australia's existing operations, per the filing.

ANZ Group Holdings Expands Clean Energy Finance Partnership With CEFC by AU$150 Million for Small Businesses

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) expanded its partnership with the Clean Energy Finance Corporation (CEFC) with an additional AU$150 million to support Australian small and medium-sized businesses' access to discounted finance for energy-efficient equipment and technology, according to a Friday statement.The bank said the funding forms part of the ANZ Energy Efficient Asset Finance Program, supporting eligible businesses investing in assets including electric vehicles, rooftop solar, battery storage, energy-efficient equipment and recycling technology.Under the program, ANZ and the CEFC each contribute 0.4% per annum toward a total finance discount of 0.8% per annum, making it easier for businesses to invest in equipment to improve productivity and reduce exposure to rising energy costs, it added.ANZ's New Zealand shares rose 1% in recent Friday trade.

Market Chatter: New Zealand's FMA Warns Banks Over ASIC's Mortgage Offset Account Review, Says RNZ

New Zealand's Financial Markets Authority (FMA) warned banks to take notice of a review conducted by the Australian Securities and Investments Commission (ASIC), which found that banks failed to properly manage mortgage offset accounts in the two years through August 2025, according to a Friday report by Radio New Zealand (RNZ).The New Zealand regulator is urging banks with offset mortgage products to examine ASIC's findings and assess whether their own safeguards are strong enough to protect customers from similar harm, said Michael Hewes, director of deposit taking, insurance, advice, and credit at FMA, according to the report.During the two years through August 2025, banks paid more than AU$55 million in customer compensation for offset account failures, and further compensation is expected as the extent of the problem becomes clearer, the ASIC said Wednesday.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

New Zealand Shares Fall; Freightways Group Appoints David Gibson as Chair

New Zealand shares ended lower on Thursday as Asian markets showed a broad-based decline amid the US Federal Reserve's decision to hold rates and Wednesday's Wall Street sell-off.The S&P/NZX 50 Index fell 1.53% or 213.89 points to close at 13,762.78.On Wednesday, the Nasdaq Composite fell 1.7%, the S&P500 declined 1.5%, and the Dow Jones lost 2.2%.The Federal Reserve held its policy rate steady in a divided decision that included three officials calling for policy tightening. The central bank's Federal Open Market Committee maintained the target range for the federal funds rate at 3.50% to 3.75%, marking its fifth consecutive pause.On the domestic front, the ANZ New Zealand Business Outlook rose to a net 56.1 in July, up from 36.6 in June, while expected own activity rose to 49.3 from 36.9, according to a report from ANZ Research.In corporate news, Freightways Group (NZE:FRW, ASX:FRW) appointed board member David Gibson as chair to succeed Mark Cairns, effective Thursday.

ACCC Grants Australian Banks Further Interim Authorization for Proposed Joint Venture for Commercial Cash Supply

The Australian Competition and Consumer Commission (ACCC) said Thursday it granted further interim authorization to Australia and New Zealand Banking Group (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), National Australia Bank (ASX:NAB), National Australia Investment Capital, and Westpac Banking (ASX:WBC, NZE:WBC) to take further steps towards a proposed joint venture to deal with the supply of commercial cash in Australia.The further interim authorization authorizes the banks to agree and enter into, but not give effect to, various agreements, the regulator said. The authorization begins immediately and may be reviewed at any time.The banks sought authorization to establish a single joint cash pool and bailment structure via an incorporated operating entity for the supply of commercial cash in Australia. Under the proposal, each applicant would acquire a 25% shareholding in the entity and a 25% interest in the cash pool. The ACCC determined that the acquisitions may be put into effect on June 26.

Australian Banks Investing in Technology to Address Mortgage Offset Account Failures, Banking Association Chief Says

Australian banks are taking measures to ensure the proper functioning of mortgage offset accounts, including investments in new technology platforms, Australian Banking Association CEO Simon Birmingham said on Wednesday.Birmingham's comments to the media followed an Australian Securities and Investments Commission (ASIC) report that found major banks failed to properly manage offset accounts in the two years through August 2025.During that period, banks paid more than AU$55 million in customer compensation for offset account failures, the ASIC said after reviewing the offset practices of eight banks, including Westpac Banking (ASX:WBC, NZE:WBC), ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), Macquarie Group (ASX:MQG), AMP's (ASX:AMP) AMP Bank, Credit Union Australia, HSBC Bank Australia, and ING Bank (Australia)."This report shows that in well over 99% of cases, mortgage offset accounts are working exactly [as] they should be, but it does demonstrate there are some failures," Birmingham said."It's a very small proportion of mistakes that have happened, and what ASIC's report shows is it's often due to manual system processes in isolated cases, or communications failures in some cases," Birmingham added.

Australian Banks Paid Over AU$55 Million in Customer Compensation Over Mortgage Offset Account Failures, ASIC Says

Major Australian banks failed to properly manage mortgage offset accounts in the two years through August 2025, resulting in customers unknowingly paying more interest than was due, the Australian Securities and Investments Commission (ASIC) said Wednesday following a review of the sector's offset practices.During that period, banks paid more than AU$55 million in customer compensation for offset account failures, and further compensation is expected as the extent of the problem becomes clearer, the regulator said.ASIC reviewed the offset practices of eight banks including Westpac Banking (ASX:WBC, NZE:WBC), ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Commonwealth Bank of Australia (ASX:CBA), Macquarie Group (ASX:MQG), AMP's (ASX:AMP) AMP Bank, Credit Union Australia, HSBC Bank Australia, and ING Bank (Australia).It found deficiencies in how all banks set up, monitored, and managed offset accounts, which are marketed as a simple way to save on mortgage interest over the life of a home loan. Banks struggled to readily identify customer offset account requests and were slow to fix issues, while their detection of failures was inconsistent."Some banks are not getting the basics right," ASIC Chair Sarah Court said, noting that some offset failures went undetected until the ASIC started investigating them.The Australian Banking Association did not immediately respond to a request for comment from.

Property For Industry Refinances Bank Facilities, Updates Green Finance Framework; Shares Up 3%

Property For Industry (NZE:PFI) completed a refinancing of its bank facilities with ANZ Group (ASX:ANZ, NZE:ANZ) unit ANZ Bank New Zealand, Bank of New Zealand, Commonwealth Bank of Australia (ASX:CBA), and Westpac Banking's (ASX:WBC, NZE:WBC) New Zealand unit, according to a Friday filing with the New Zealand bourse.The refinancing consolidated and restructured a number of facilities, resulting in a revised maturity profile with the facilities now due in July 2029, 2030, and 2031, per the filing.Following the refinancing, total committed bank facilities fell to NZ$600 million from NZ$675 million, the company said.Property For Industry also implemented a new facility structure that enables it to adjust commitments between green and non-green debt tranches, subject to certain conditions, with aggregate tranche limits remaining equal to their total facility limit.Adjustable green tranches give the company more financing flexibility, it said, adding that "all significant new developments will target a 5 Green Star rating."Property For Industry shares gained nearly 3% in recent Friday trade.

NZX Midday Sector Update: Producer Manufacturing Rises, Finance Struggles

Producer manufacturing shares gained the most on New Zealand's Exchange, rising past 4% by midday Tuesday.Skellerup Holdings (NZE:SKL) shares rose almost 6% in recent trade.Skellerup on Tuesday increased its fiscal 2026 net profit after tax guidance to between NZ$64 million and NZ$65 million from a previous range of NZ$57 million to NZ$62 million.Meanwhile, the finance sector fell past 1%.Shares of ANZ Group Holdings (NZE:ANZ, ASX:ANZ) dropped by almost 2% in recent trade.

Credit Growth Forecast to Half by 2027, Tighten Bank Funding, Jefferies Says

Credit growth is forecast to halve by 2027, which will tighten rather than ease bank funding, and revised deposit modelling shows the sector's loan-to-deposit ratio rising, driving banks to compete more aggressively for a shrinking pool of funding, Jefferies said in a Thursday note.Recently acquired deposit pricing data points to a second half of fiscal 2026 spread tailwind, but deposit scarcity dominates thereafter.Commonwealth Bank is expected to remain the primary deposit beneficiary, reflecting its scale and long-dated hedge book.The investment firm assigned a buy rating to National Australia Bank (ASX:NAB) with a price target of AU$44.96 per share. It assigned hold ratings to both ANZ Group (ASX:ANZ, NZE:ANZ) and Westpac (ASX:WBC, NZE:WBC), with price targets of AU$33.71 per share and AU$34.95 per share, respectively.Commonwealth Bank of Australia (ASX:CBA) was assigned an underperform rating with a price target of AU$144.40 per share.

ANZ Group Commits AU$250,000 in Funding to 2026 Seeds of Renewal Program; Shares Down 3%

ANZ Group Holdings (ASX:ANZ, NZE:ANZ) committed AU$250,000 in funding to help support remote, rural, and regional communities across Australia via its 2026 Seeds of Renewal program, according to a Wednesday statement from the bank.The funding will focus on four key priority areas: financial wellbeing, housing access, environmental sustainability, and projects that help local communities to thrive.The bank's Australian and New Zealand shares each fell 3% in recent trading on Wednesday.

New Zealand's FMA to Ensure Banks Prioritize Consumer Needs in Products

New Zealand's Financial Markets Authority (FMA) will focus on ensuring that banks and non-bank deposit takers prioritize consumer needs when developing new products or redesigning existing ones while keeping in mind the capabilities and limitations of their systems and processes, according to FMA's Financial Conduct Report published on Tuesday.The report sets out the watchdog's regulatory priorities for the 2026 to 2027 financial year, covering specific sectors and cross-sector themes.FMA acknowledged that financial institutions review products and services, with most doing so both reactively and proactively. But in some cases, the absence of negative reporting is taken as confirmation that consumers are being treated fairly. It also saw cases where communication with consumers about changes to products and services following reviews was inconsistent.The regulator plans to increase its understanding of how banks and non-bank deposit takers ensure that their provision of transaction account services complies with the fair conduct principle and minimum fair conduct program requirements over the next 12 months.It said it would engage with banks and non-bank deposit takers to understand how complaints data is used. The regulator's focus is on ensuring that boards and executives regularly use the themes and trends in complaints data as an input into decisions to improve product and service offerings.