A message from ANZ’s Chairman
Paul O’Sullivan
ANZ reported a strong result for the half year ended 31 March 2024, coming off arecord year in financial 2023. Our Statutory Profit after tax for the half year was$3,407 million and our cash profit was $3,552 million.
The Interim Dividend of 83 cents per share, partially franked at 65 per cent, amounts
to about $2.5 billion being paid to you, our shareholders. The franking level reflects
the geographically diverse nature of our business, including the strong performance ofour non-Australian businesses where we do not generate franking credits.

The Board also approved an on-market share buybackof up to $2 billion – one of our largest ever capitalmanagement exercises – reflecting our strong capital
position and the partial sale of our stake in Malaysia’s
AmBank.

In New Zealand we maintained market leadership withconsistent performance across the business. Lendingrose 1 per cent and deposits grew 2 per cent despite
challenging conditions and we invested in the overhaul of
our core banking platform.

We continued to protect and strengthen the balance
sheet. ANZ’s Common Equity Tier 1 Ratio was 13.5 percent and Cash Return on Equity excluding capitalretained to purchase Suncorp Bank was 10.7 per cent.

During the half, the Australian Competition Tribunal
authorised our proposed acquisition of Suncorp Bank andlegislation has been introduced in Queensland to allow it
to proceed. These are important milestones, however westill have conditions to meet, including the passing of thatlegislation and approval from the Federal Treasurer.

Our balance sheet places us among the best capitalisedbanks in the world. Even allowing for the share buyback
and the potential Suncorp Bank acquisition, our capitalratio is still about 11.8 per cent.
The bank continued to invest to pursue growth while
maintaining a disciplined approach to costs, unlocking$200 million of savings during the half. The benefits of
ANZ’s diversification showed in the momentum acrossall divisions.
In Australia Retail we continued to see strong home loan
volume growth with price discipline and returns above thecost of capital. Customer deposits also rose 5 per cent.
We continued to invest in our new digital banking
platform ANZ Plus and it showed good progress, growing
to about 700,000 customers and $14 billion in deposits.
It is attracting on average 35,000 customers every
month, about half of which are new to ANZ.

We’re almost two years into this process and while
taking longer than anticipated, we are using the time
productively and remain confident of the benefits.
While most in the community remain resilient, higher
interest rates, taxes, rent and expenses are hurting many
households and businesses. Subdued economic growth,high inflation and geopolitical tensions mean interest ratecuts may be some time off.
Still, the number of ANZ customers in financial difficulty
remains remarkably low and about 79 per cent of ourhome loan customers remain ahead in their repayments.
Our strong financial performance with a diversified
portfolio of businesses, a robust capital position and a
growing deposit base means ANZ has never been better
placed to support any customers in need.
Finally, I would like to acknowledge the many thousands
who come to work at ANZ every day. Their commitment
to helping our customers build a financially stronger
future is something your Board is proud of.

The pivot from lending to digital payments and currency
platforms has transformed the division’s performanceand positions us for long-term growth with sustainably
higher returns.
The Commercial business continued to deliver our highest
return on equity and about 19 per cent of group profit.
Business lending grew 7 per cent and deposits were up
3 per cent versus the prior year.

Regards

PAUL O’SULLIVANCHAIRMAN2024 HALF YEAR HIGHLIGHTS-1%$3,552 million

83 cents

2H232H2312-1%

2

CASH PROFIT(Continuing operations)

12 cents$3,584 million

118.3 cents

DIVIDEND PER SHARE

CASH EARNINGS PER ORDINARY SHARE(Continuing operations)

81 cents2

2H23

119.5 cents

 ash Profit excludes non-core items included in Statutory Profit with the net after tax adjustment an increase to Statutory Profit of $145 million.
CExcludes the additional dividend of 13 cents per share at 2H23.

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Institutional grew revenue again and posted a record
return on equity domestically and internationally.
Customer revenues in Markets grew 30 per centhalf-on-half, with most growth coming from ourinternational network.