ANZ Group has reported growth in both net loans and customer deposits in the third quarter, supported by strong demand for home purchases and business lending.
The bank said higher lending growth came from both its Australian retail and institutional segments. Credit risk-weighted assets edged higher due to expansion in its retail bank's home lending and institutional lending.
The bank’s common equity tier 1 ratio rose by 16 basis points since March to 11.9%, reflecting the effect of stronger lending growth across its retail and institutional divisions.
Mortgage payments past due by 90 or more days rose 4 bps to 88 bps compared to last year, though home loan delinquencies across major Australian banks remain low despite ongoing cost-of-living pressures.
ANZ shares climbed more than 1% to A$32.88 in mid-morning trading, outpacing a 0.2% gain in the S&P/ASX200 benchmark index.
The results follow lending and deposit growth reported this week by Commonwealth Bank and Westpac in their respective full-year and third-quarter updates.
The trading update comes as the Australian economy holds steady, with business surveys showing optimism and consumer spending picking up in recent months as lower borrowing costs and past tax cuts flow through to incomes.
ANZ Chief Executive Nuno Matos (pictured) last week launched a strategic review into ANZ’s operations, focusing on the integration of Suncorp’s banking business following its 2024 acquisition.
Suncorp’s risk-weighted assets stood at $34.1 billion at the end of the June quarter, up slightly from the previous quarter.
Matos, who took over as CEO in May, is expected to deliver a strategic briefing on the bank’s outlook before ANZ’s full-year results are released on Nov. 10.
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