ANZ CFO says cost cuts exceed AUD 900 million, beating target

• ANZ exceeded its fiscal 2026 cost-cutting target, delivering over AUD 900 million against AUD 800 million, CFO Farhan Faruqui said.
• Annualized sustained cost savings exceeded AUD 1 billion, while the cost-to-income ratio improved by more than 400 basis points.
• Cash profit rose 10%, excluding significant items recognized in 2025; return on tangible equity increased more than 100 basis points.
• The final dividend remained at AUD 0.83 per share, with franking rising to 80% from 70% a year earlier.
• Faruqui ruled out volume growth at the expense of margins or returns, citing higher rates, competition and geopolitical risks.

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