ANZ Group Holdings Limited (ANZGY) Stock Price & How to Invest

ANZ Group Holdings Limited is the listed parent of Australia and New Zealand Banking Group, one of Australia's "Big Four" banks alongside Commonwealth Bank, Westpac and NAB. Most of its money is net interest income (A$8.9 billion of A$11.2 billion in cash operating income in the half to 31 March 2026), earned on ~A$822 billion of loans funded largely by ~A$771 billion of customer deposits. It reports six divisions: Australia Retail, Business & Private Bank, Institutional (transaction banking, corporate lending and Markets), New Zealand (where ANZ is the largest bank), Suncorp Bank and Pacific. In the March 2026 half Institutional earned A$1.35 billion of cash profit, Australia Retail A$945 million, New Zealand A$788 million and Business & Private Bank A$698 million. By geography, Australia produced A$2.19 billion of the A$3.78 billion total, New Zealand A$1.07 billion and the rest of the world (mainly Asia) A$527 million.

The bank traces its roots to the Bank of Australasia, founded in 1835, which merged with the Union Bank of Australia in 1951; the group took its current form after a 1970 merger with the English, Scottish & Australian Bank. In January 2023 ANZ put a non-operating holding company, ANZ Group Holdings, above the bank. On 31 July 2024 it completed the purchase of Suncorp Bank from Suncorp Group. ANZ listed ADRs on the New York Stock Exchange in December 1994, delisted in July 2007, and has traded in the US as a Level 1 OTC program since.

Nuno Matos became chief executive in 2025, succeeding Shayne Elliott, and Paul O'Sullivan chairs the board. Matos launched the ANZ 2030 strategy in October 2025 with five immediate priorities: a new leadership team and cultural reset, faster Suncorp Bank integration, a single customer front end built on ANZ Plus, cutting duplication (about 3,500 roles, 84% gone by June 2026) and fixing non-financial risk management. Like the other big Australian banks, ANZ has no controlling holder; custodial nominees for institutions and a large base of Australian retail investors make up the register.

The investment picture is a recovery from a messy fiscal 2025, when cash profit fell 14% to A$5.79 billion after A$1.11 billion of significant items, including a A$240 million ASIC penalty and a A$585 million pre-tax restructuring charge. The March 2026 half showed the reset starting to work: A$3.78 billion of cash profit, a 49.4% cost-to-income ratio and an 11.6% return on tangible equity. The August 2026 update added A$1.90 billion of quarterly cash profit and a 12.51% CET1 ratio. Management targets return on tangible equity of about 12% by fiscal 2028 and 13% by fiscal 2030. At ~A$37.50 the shares trade at roughly 1.7 times net tangible assets, which already prices in much of that improvement.

The biggest risk is execution. ANZ is cutting thousands of roles, migrating Suncorp Bank customers and rebuilding its retail front end at once, and fiscal 2025 showed what slippage costs: A$1.11 billion of significant items that cut cash profit 14%. Regulators are watching closely. APRA required a root cause remediation plan for non-financial risk, Promontory issues independent assurance reports on progress, and the September 2025 ASIC settlement carried A$240 million in penalties, so further breaches would be costly. Margins are the second pressure point: group net interest margin was 1.53% in the March 2026 half, down 3 basis points on a year earlier, as competition for mortgages and deposits stays intense. Credit has been benign, with non-performing exposures at 0.55% of the book, but ANZ warned that the longer oil flows are constrained by the Middle East conflict, the more the shock shifts from inflation to weaker growth, and it added A$175 million to collective provisions for that scenario. Australian housing is the largest exposure, with 90-day mortgage arrears at 0.86% in June 2026. New Zealand adds the CCCFA class action, now under appeal. For ADR holders, the shares and dividend are priced in Australian dollars, so a weaker Aussie dollar lowers their US-dollar value, and the OTC line trades thinly with wider spreads than the ASX. At about 1.7 times tangible book, the valuation leaves limited room if the 12% return target slips.

We give no verdict on ANZ Group Holdings Limited. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Cost cutting and simplification. Costs are the fastest lever on returns.

The case against. The biggest risk is execution.

Read the full bull and bear case on ANZGY, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see ANZ Group Holdings Limited's investor relations page or your broker.

• Cash profit (12 months to Mar 2026): ~A$6.0B (~A$7.1B ex significant items)
• Cash operating income (12 months to Mar 2026): ~A$22.1B
• Cash return on tangible equity (1H26): 11.6%
• CET1 ratio (30 Jun 2026): 12.51%
• Annual dividend: A$1.66 per share (~4.4% yield at ~A$37.50)
• Price to net tangible assets: ~1.7x (NTA A$21.72/share, Mar 2026)

The trailing figures blend a weak September 2025 half, hit by penalties and restructuring, with a stronger March 2026 half, so ~A$6.0 billion understates the current run rate. Annualising the June 2026 quarter's A$1.90 billion gives roughly A$7.6 billion, which against ~3.0 billion shares at ~A$37.50 (a market value near A$113 billion, about US$79 billion) implies a multiple near 15 times. The price is about 1.7 times tangible book of A$21.72 a share, for a bank earning low double-digit returns. The dividend has been flat at A$1.66 since fiscal 2025, a 68.5% payout in the March 2026 half.

Other names that sit close to ANZGY: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get ANZGY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so ANZGY sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where ANZGY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

ANZGY offers a large, dividend-paying Australian and New Zealand bank in US dollars, with the case resting on Nuno Matos's cost cuts and Suncorp Bank integration landing on time, plus currency and withholding tax on top.

Whether ANZGY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ANZGY a buy or a sell?, and where the stock could go from here in the ANZGY stock forecast.

For income investors, whether ANZGY pays a dividend and how the payout looks is covered in does ANZGY pay a dividend? And to weigh ANZGY against a peer, read the full side-by-side comparisons: ANZGY vs MQBKY and ANZGY vs ING.