ANZ Banking Group: Capital looks solid. Institutional a differentiator
About the author:
- Author name:
- By Nathan Lead
- Job title:
- Senior Analyst
- Date posted:
- 08 May 2023, 7:00 AM
- Sectors Covered:
- Infrastructure, Utilities, Banks
- ANZ Banking Group's 1H23 result was a mixed bag – pre-provision profit beat our forecast but was below consensus, while the interim dividend and capital was better than expected.
- Mgmt. focus was on the benefit of the Institutional division, portfolio de-risking, and improving risk-adjusted returns.
- HOLD retained, with M&A the key caution. Target price dropped to (login to view).
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