ANZ Group Holdings Ltd's stock surged 7.42% during intraday trading on Thursday, following the release of its impressive first-quarter financial results.
The bank reported a cash profit of AUD 1.94 billion for the quarter ended December 31, 2025, representing a 75% increase compared to the quarterly average of the second half of the previous financial year. Excluding significant items, cash profit rose by 17%, driven by a significant reduction in expenses and an improvement in revenue.
The strong performance is attributed to early benefits from a cost-cutting overhaul under new CEO Nuno Matos, which included an 8% reduction in expenses for the quarter. The bank's cost-to-income ratio fell, and its Common Equity Tier 1 capital ratio strengthened to 12.15%, indicating a robust financial position. CEO Matos stated the result highlights progress in executing the ANZ 2030 strategy.