Bulletin: ANZ To Maintain Robust Credit Profile

MELBOURNE (S&P Global Ratings) Nov. 8, 2024--Australia and New Zealand Banking Group Ltd. (ANZ) will maintain a robust credit profile. ANZ today announced a cash profit of A$6.7 billion for the year ended Sept. 30, 2024, down 9% on the prior year. This includes a one-off A$196 million charge related to the completion of its acquisition of Suncorp Bank on July 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. As of Sept. 30, 2024, ANZ's gross impaired assets were flat over the prior year at 0.21% of gross loans and advances, including the impact of the Suncorp Bank acquisition. Credit losses over

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