News Release
For Release: 13 November 2023

2023 Full Year Result & Proposed Final Dividend
ANZ today announced an audited1 Statutory Profit after tax for the full year ended 30 September
2023 of $7,098 million, flat on the previous year.
Cash Profit2 from continuing operations was $7,405 million, up 14% when compared with theprior year.
ANZ’s Common Equity Tier 1 Ratio was 13.3% and Cash Return on Equity was 10.9%. The
proposed 2023 Final Dividend is 94 cents per share (cps), comprising an 81cps dividend partiallyfranked at 65% and an additional one-off unfranked dividend of 13cps. 3
GROUP FINANCIAL INFORMATION
Earnings ($m)

FY23

FY22

Movement

Statutory Profit After Tax

7,098

7,1190%Cash Profit (continuing operations)

7,405

6,515

14%

Profit before Credit Impairment & Tax

10,754

8,968

20%

Earnings Per Share (cents)

247.1

228.8

8%

Return on Equity

10.9%

10.4%

54bps

Return on Average Assets

0.66%

0.63%

3bps

Net Tangible Assets per ordinary share ($)

21.78

20.75

103 cents

Dividend per share (cents)

175

146

20%

Credit Provision Charge ($m)

FY23

FY22

Movement

Total Provision Charge / (release)245(232)

large

Individual Provision Charge / (release)

93

7918%

Collective Provision Charge / (release)152(311)large

Sep-23

Sep-22

Movement

Gross Loans and Advances (GLAs)

710.6

676.0

5%

Total Risk Weighted Assets (RWAs)

433.3

454.7

(5)%

Customer Deposits

647.1

620.4

4%

Common Equity Tier 1 Ratio (CET1)

13.3%

12.3%

105bpsOther

Sep-23

Sep-22

Movement

Full Time Equivalent staff (including discontinued)

40,34239,381

2%

Balance Sheet ($b)

123

The Group’s Annual Report will be available on 13 November 2023 and will include a copy of KPMG’s audit report dated 10 November 2023
Cash Profit excludes non-core items included in Statutory Profit with the net after tax adjustment an increase to Statutory Profit of $307 million
The proposed 2023 Final Dividend of 94 cents per share is partially franked at 56%. See details on page 31

CEO COMMENTARY4ANZ Chief Executive Officer, Shayne Elliott, said: “This is a strong annual result, with record
revenue5 and cash profit following several years of transformation, enabling us to continue tosupport our customers and improve their banking experience.
“We continued to strengthen our balance sheet and closed the year with provisions for potential
credit losses higher than prior to the pandemic, and with more capital than ever before. This is
critical as we enter a period of continued high interest rates, rising costs and geopoliticaltensions.
“While our first half was stronger, the second half delivered an outstanding revenue and profit
result, demonstrating the benefits of our diversified franchise.”“We carefully managed costs to partially offset the high inflation environment, while continuing
to invest in initiatives that will set us up for sustainable long-term success. These investments
include our Institutional payments platforms that supported $164 trillion in transaction flows
through the year, the continued migration of services to the cloud and our new retail business
ANZ Plus.
“Importantly, each of our core divisions contributed positively to the result. They all have a clear
strategy and a funded roadmap to deliver sustainably better outcomes for customers, in linewith our purpose.
“In Australia Retail, our ongoing investment in home loan processing supported consistent
turnaround times which, coupled with ongoing digitisation for deposit account opening, resulted
in high-quality growth in our retail balance sheet. Investments to protect customers from scams
and fraud continue. Pleasingly, we detected and prevented more than $100 million of potential
customer losses, up 38% from last year.
“Just 18 months since launching, ANZ Plus has become one of the fastest growing digital banking
platforms in Australia. As of today, it has attracted more than 500,000 customers and over $10billion in deposits. The cost of operating ANZ Plus is materially lower than our existing retailbusiness and we are seeing high levels of customer engagement and satisfaction. Importantly,
the advanced security measures on ANZ Plus resulted in one of the lowest incidences of digital
fraud in the industry.

“This month we have released our new ANZ Plus digital home loan refinance product to eligible
customers, designed to make home lending faster and simpler for Australian homeowners.
“Australia Commercial is our highest returning division and delivered 11% revenue growth in theyear. Lending grew to a record high of $62 billion. Deposits also grew, showing the underlying
resilience of our SME customers. We were pleased to have supported over 1,000 small
businesses through our online unsecured lending platform, GoBiz, which like ANZ Plus delivers
better customer outcomes at lower cost.
“Our Institutional Division produced record financial results, reflecting the benefits of long-term
investment and transformation. For the first time, all three of its core businesses, Transaction
Banking, Corporate Finance and Markets, generated more than $2 billion each in revenue.

45All commentary is presented on a Cash Profit continuing basis with growth rates compared with the full year ended 30 September 2022 unless otherwise
statedRevenue up 13% to $20.9 billion
2

“Transaction Banking recorded its highest ever annual revenue, servicing some of the world’s
largest companies and financial institutions.
“The strength of our New Zealand Division was once again evident as we maintained ourleading market position in home loans, retail deposits, business banking, agriculture and fundsmanagement. ANZ New Zealand delivered consistent financial results while helping customers
navigate a difficult environment due to continued inflation, high interest rates and extreme
weather events.
“Overall, this is a strong result reflecting the benefits of our consistent strategy and a welldiversified portfolio of businesses,” Mr Elliott said.
CREDIT QUALITY
The total credit provision result for the full year on a cash continuing basis was a net charge of$245 million comprising:a collective provision (CP) charge of $152 million
an individually assessed provision (IP) charge of $93 million

There was a small release of $11 million in CP in the second half, which combined with an IP
charge of $123 million resulted in a second half net credit impairment charge of $112 million.
CP overlays for increased risks associated with rising inflation, higher interest rates as well as
increased geopolitical tensions have been largely retained. As a result, our CP balance at 30
September 2023 was $4,032 million.
DIVIDEND & CAPITALANZ Banking Group’s capital position remains strong, with a Common Equity Tier 1 Ratio of
13.3%, an increase of 16 basis points since March 2023. This includes capital being held for theproposed acquisition of Suncorp Bank.
The proposed 2023 Final Dividend is 94cps, partially franked at 56%. This comprises an 81cps
dividend partially franked at 65%, and an additional one-off unfranked dividend of 13cps.
The level of franking reflects the geographically diverse nature of our business, as well as thetiming of the proposed Suncorp Bank transaction. The Board recognised that lower franking may
not have been anticipated by some shareholders. In recognition of this, and given our strong
performance, the Board agreed that the one-off unfranked dividend was appropriate.
SUNCORP BANKIn July 2022, we announced plans to acquire Suncorp Bank to add scale to our Retail andCommercial businesses and enable ANZ to more effectively compete in the Australian market.
In August this year, the Australian Competition and Consumer Commission (ACCC) announced
its decision not to grant authorisation.
ANZ has filed an application with the Australian Competition Tribunal for review of the ACCC’sdecision, and a decision is expected in February 2024. If ANZ’s application is successful,completion would then remain subject to approval from the Federal Treasurer and the passageof legislative amendments by the Queensland Parliament. We continue preparations to integrate
Suncorp Bank into ANZ Group, subject to these conditions being met.
3

FURTHER COMMENTS
Mr Elliott said: “Looking ahead, we will continue to manage costs to create capacity for further
investment in ANZ Plus, growing our Commercial business and enhancing our sustainability,currency and payments platforms.
“The external environment is likely to remain challenging. The full impact of higher interest rates
is expected to continue to impact economic activity as well as household and business budgets.
“Despite these challenges, we expect the economy will be supported by strong householdsavings, resilient housing markets, low unemployment, solid business investment intentions andstrong migration in Australia and New Zealand.
“Our customers have so far proven resilient, with a relatively low level of delinquencies despite
the current interest rate tightening cycle. That said, we know circumstances can change quickly.
“We will continue to focus on supporting customers through what will likely be another year of
cost-of-living pressures. We encourage customers experiencing financial difficulty to contact us,
and we will continue to proactively reach out and check in with customers who may be struggling.
“Our strong balance sheet means ANZ is well placed to assist those in need, and we stand readyto do so,” Mr Elliott said.
Interviews with relevant executives, including Shayne Elliott, can be found atbluenotes.anz.com.
For media enquiries contact:

For analyst enquiries contact:

Elizabeth Rudall
Acting Head of Media Relations
Tel: +61 403 130 207

Jill Campbell
Group General Manager,Investor Relations
Tel: +61 412 047 448

Amanda Schultz
Media & Public Relations Manager
Tel: +61 401 532 325

Cameron Davis
Executive Manager, Investor Relations
Tel: +61 421 613 819

Approved for distribution by ANZ’s Continuous Disclosure Committee
ANZ Group Holdings Limited
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