ANZ Bank New Zealand Limited Analysis

Overview

Refer to www.anz.co.nz/about-us/media-centre/investor-information/ for ANZ Bank New Zealand Limited's (ANZB) disclosure statement and information on ANZB bonds and notes.

Performance

The following information was extracted from ANZ Bank New Zealand Limited’s half year results, released 01 May 2026:

Key points:

All comparisons are against the six months to 30 September 2025 and on a cash basis unless noted otherwise.

• Cash profit of $1,238 million, up 2%

• Statutory profit of $1,259, flat versus the prior period due to lower gains from economic hedges

• Revenue up 2% reflecting lending and deposit growth in part offset by margin compression

• Expenses down 3% driven by seasonality, productivity benefits and lower restructuring expenses

• Credit impairment charge of $22 million compared to a release of $20 million for the previous period

• Customer deposits up 4% and net loans and advances up 2%

• Funds under management down 1% to $41.3 billion

ANZ New Zealand (ANZ NZ) today reported a cash net profit after tax (NPAT) of $1,238 million for the six months to 31 March 2026, up 2% on the $1,208 million recorded for the six months to 30 September 2025.

ANZ Bank New Zealand Limited’s total capital at March 2026 was over $19 billion, and the total capital ratio was 17.1%, well above the 14.5% required by the Reserve Bank.

Statutory NPAT was $1,259 million, flat compared to the prior period due to lower gains from economic hedges.

ANZ Bank New Zealand (ANZ Bank NZ) Chief Executive Officer Antonia Watson said the result comes at a time of heightened global uncertainty.

“Prior to the war in Iran, New Zealand was in the early stages of economic recovery.

“Confidence was beginning to return as lower interest rates flowed through to customers, with higher commodity prices and strong farm-gate returns supporting the farming sector and rural economy.

“Strengthened balance sheets and savings across households, businesses, and farms helped support spending and investment.”

ANZ NZ’s half-year performance was shaped by the lift in economic activity - net loans and advances increased by 2% and customer deposits grew by 4%. However, revenue was constrained by ongoing margin pressure that saw net interest margin decline by 5 basis points.