ANZ releases results – and they're very good

ANZ releases results – and they’re very good.

Final big four member to release results is optimistic for 2021

Yesterday Westpac released its (very healthy) figures – today ANZ has reported a profit jump, recording an unaudited cash profit of $1.81 billion – a huge leap of 54% from the average of the last two quarters of last year, and a whopping 154% improvement over the first two quarters of the year.

ANZ is also optimistic for what remains of 2021, and has written back nearly $173 million of bad debt provisions.

ANZ now only has 15,000 home loans that still have COVID deferrals, down to just 16% of the 96,000 the bank faced during the worst of the pandemic’s wave of mortgage deferrals.

How the big 4 stack up so far (Cash profit, A$ billions)

Commonwealth Bank                    $3.89

Westpac                                           $1.97

ANZ                                                   $1.81

NAB                                                   $1.67

Deferred mortgage book amount reported (A$ billions)

Westpac                                               $11

CBA                                                        $9

ANZ                                                       $6

NAB                                                       $1