ANZ Group Expected to Outperform on Asset Quality in Case of Credit Cycle, Jarden Says
MT Newswires Live
Aug 13
ANZ Group Holdings (ASX:ANZ) is expected to materially outperform on asset quality if a credit cycle happens, Jarden said in a Thursday note.
It logged AU$1.901 billion in cash profit for fiscal Q3, up 2% from a year ago. For the three months ended June 30, operating income was AU$5.607 billion, down 1%.
The bank is on track to integrate Suncorp (ASX:SUN), reduce duplication, and simplify its organization, with an increased fiscal 2026 gross cost-out target of AU$875 million while defending and leveraging leadership in institutional and New Zealand banking.
The investment firm maintained an overweight rating on ANZ while keeping the price target at AU$35.50.
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