Faruqui: pleasing result amid challenging environment

ANZ Chief Financial Officer Farhan Faruqui says he’s pleased with the bank’s interim performance as the lender delivered its highest ever half year revenue amid a “challenging environment”.

“It's a great outcome for shareholders. It's a great outcome for our team and for our customers.” – Farhan Faruqui

Speaking with bluenotes on video, Faruqui said the result was also underpinned by a consistently strong cost management performance, particularly as the bank steered a course through an “unsettled” global economy.

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Click here to read the transcript

“In some ways it's part of our DNA as banks, to navigate through complex and uncertain environments. And we feel very well positioned to do that again,” Faruqui said.

He also said there was a lot for shareholders in the result - with cash earnings per share up 13 per cent in the half and “almost at a record high” while return on equity increased.

“It's a great outcome for shareholders. It's a great outcome for our team and for our customers.”

“Now, of course, there is a hint of caution because there's uncertainty in the air. The world is a little bit unsettled.”

“From our perspective, it's time to make sure that we have conservative settings around our capital position […] so that we can manage through this period of time. But I feel very strongly about the fact that we are well positioned to face into this environment.”

ANZ’s statutory profit after tax for the half year ended 31 March 2025 was A$3,642 million, up 16 per cent on the previous half. Cash Profit was A$3,568 million, up 12 per cent on the previous half. Revenue for the half hit a record A$10,995, up five per cent on the previous half.

The proposed Interim Dividend is 83 cents per share, partially franked at 70 per cent. 

Multi-year derisking

Faruqui says the bank is well positioned to deal with the current environment due to a multi-year effort to de-risk ANZ’s portfolio and to simplify the bank through strong customer selection, capital and liquidity settings.

“That's an outcome of the work that we've done over several years,” he said.

Faruqui said strong customer balance sheets, particularly on the corporate side, provided financial flexibility, with Australian and New Zealand households showing resilience during the period of higher rates.

Faruqui said the bank was poised to help businesses adapt as uncertainties play out.

“We think we are well positioned to support our clients, as they think about reshaping their supply chains as they move their production from one location to the other, because we are present in 29 markets, particularly across Asia, Australia and New Zealand.”

“That allows us to capture the opportunity wherever they go and to support them as they shift supply chains. And I think that's going to be an important part of our focus going forward.”

Suncorp Bank Acquisition

Faruqui said this was the first half that the Suncorp Bank acquisition was fully reflected in the results.

He said this financial period demonstrated Suncorp Bank had “momentum” and he praised the fact it delivered outstanding profit growth in contrast to its regional peers.

“They are performing well. They're managing their margins and volumes, they're ensuring that they get best value from being part of the ANZ Group.”

Faruqui said that since ANZ announced the intention to buy Suncorp Bank in July, 2022, the number of customers have grown, the balance sheet has grown, and the bank’s profitability has grown. “I think that's a really good sign that we made a great acquisition and they've been an incredible fit.”

Elizabeth Rudall is Head of Strategic Communications at ANZ