ANZ joins Westpac, NAB to warn on post-Trump | Australian Markets

Australia’s fourth-largest bank says it is properly positioned to navigate ongoing volatility within the international market and economic system after boosting its earnings by 12 per cent.

ANZ posted a rise in first-half money revenue to $3.6 billion on the back of a 5 per cent bounce in income to nearly $11 billion, from the earlier corresponding period.

Outgoing chief govt Shayne Elliott performed up the outcome, which in proportion phrases has topped its rivals Westpac and National Australia Bank.

“As I hand over to our incoming CEO Nuno Matos, the bank is well placed for the future,” he stated on Thursday.

“Our strong balance sheet, along with our diversified portfolio, leaves the bank well placed to navigate ongoing volatility.”

ANZ’s outcomes for the primary time included the earnings of Suncorp Bank, which it purchased in July final 12 months.

ANZ stated it now has more than a million clients, with deposits of more than $20 billion.

But Mr Elliott harassed the “future of global conditions is uncertain and there will continue to be periods of increased volatility”.

His warning mimicked these made by the chief executives of Westpac and NAB earlier this week.

The uncertainty is being pushed by the United States, after President Donald Trump imposed massive tariffs on items imports from international locations across the world, together with Australia, sparking threats of retaliation.

The unpredictable manner the United States is managing its punitive tariffs regime has sparked warnings by main American investment banks about a US and subsequent international recession.

On Monday, Westpac posted a one per cent fall in first-half earnings to $3.3 billion. National Australia Bank delivered interim earnings of $3.6 billion, up one per cent, on Wednesday.

ANZ pays its buyers a first-half dividend of 83 cents per share, towards 76 cents for Westpac and 85 cents for NAB.