ANZ Group Holdings (ASX:ANZ, NZE:ANZ) reported a 2% increase in customer deposits for the first quarter, driven by growth across its retail, commercial, and institutional divisions, according to a Thursday filing with the Australian and New Zealand bourses.
The bank's institutional payments and cash management (PCM) deposits grew by 3% in the quarter, offsetting a flat total in institutional deposits. Meanwhile, deposits from retail and commercial sectors rose between 1% and 5%, the filing said.
The increase in deposits comes alongside ANZ's AU$2 billion share buyback program, with AU$918 million completed by Dec. 31, 2024, and a further au$128 million completed by Jan. 31, the filing added.
As of Dec. 31, 2024, the bank's Common Equity Tier 1 (CET1) ratio stood at 11.5%, bolstered by the transfer of capital from ANZ Banking Group to ANZ Group Holdings.
Additionally, ANZ reported a 4% increase in net loans and advances during the quarter, with most of the growth coming from institutional clients across corporate finance, transaction banking, and markets.
Gross impaired assets rose by AU$200 million to AU$1.9 billion in the first quarter, mainly due to Australian mortgage restructures, the company said.
Shares of the company fell 3% in recent trade.
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