MELBOURNE (S&P Global Ratings) May 7, 2024--Australia and New Zealand Banking Group Ltd. (ANZ) will maintain a robust credit profile notwithstanding a A$2 billion share buyback. ANZ today announced a cash profit of A$3.55 billion for the six months ended March 31, 2024. The results at ANZ (AA-/Stable/A-1+), one of Australia's four major lenders, were solid across all key business divisions and in line with our expectations. We expect ANZ's capital levels to remain strong despite the A$2 billion on-market share buyback. ANZ will manage its common equity Tier 1 (CET1) ratio above 11%, higher than the 10.25% prudential requirement. As of March 31, 2024, ANZ's CET1 ratio stood at 13.5%. On a pro forma basis, considering both the pending
