0017 GMT - ANZ's institutional bank has peaked and its earnings are set to decline by 15% over the two years through fiscal 2026, Morgan Stanley analysts tell clients in a note. They see lower interest rates, increased competition and modest volume growth among the factors constraining the unit's performance, and expect its return on equity to fall to 12% in fiscal 2026, from 14% in the last full fiscal year. The MS analysts point out that the institutional unit accounts for about 40% of ANZ's group profit, and see limited potential for the stock to re-rate. MS trims its target price by 3.6% to A$26.50 and stays equal-weight on the stock, which is up 1.1% at A$29.07. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 20, 2025 20:17 ET (00:17 GMT)
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