MELBOURNE, June 24, 2026, 02:09 (AEST)
ANZ Group Holdings finished up 1.4% at A$35.74 on Tuesday, ahead of Australia’s major banks as investors moved into large dividend stocks while tech sold off hard. National Australia Bank rose 1.2%. Westpac was up 1.0%. Commonwealth Bank added 0.5%.
ANZ outperformed as the S&P/ASX 200 shed 29.1 points, or 0.33%, closing at 8,787.0. Tech and other growth names weighed on the benchmark, hurt by a global risk pullback. Banks picked up some of the defensive flows.
ANZ said its latest update isn’t about earnings—this time it’s operational. The bank will open 27 branches in busy spots on Saturdays from June 27. These locations will handle home loans, relationship banking, and specialist advice, but won’t offer regular counter services.
ANZ is rolling out Saturday hours at 27 branches, aiming to meet customer preferences, retail head Pedro Rodeia said. “This is about making banking fit around our customers’ lives — not the other way around,” Rodeia said. The bank is also adding 200 ATMs and refurbishing parts of its branch network. ANZ
ANZ’s effort over the weekend is key for Chief Executive Nuno Matos, who is working to turn around the bank’s direct mortgage business. ANZ held about 14% of Australia’s home-loan market earlier this year, the lowest among the big four, regulatory figures quoted by Reuters show.
Jefferies analyst Andrew Lyons said, “The real test though, in our view, will be how it manages its net interest margin when it gets back to system housing growth.” Net interest margin measures the gap between what a bank makes on loans and pays out for deposits and other funds. Reuters
ANZ (ASX:ANZ) said first-half cash profit after tax came in around A$3.8 billion. The bank uses cash profit as its main earnings measure, stripping out major or one-off items. Return on tangible equity climbed to 11.6%, while its cost-to-income ratio got better at 49.4%. Lending growth in Australian home loans and business banking was slower.
Consumer confidence is still patchy. ANZ-Roy Morgan confidence climbed 2.1 points to 72.8 last week, reaching its best level since early March. But ANZ economist Sophia Angala noted, “mortgage holders were the only cohort to record a decline in confidence.” ANZ
But the upside isn’t clear cut. The Reserve Bank of Australia left its cash rate at 4.35% last week after three hikes this year, warning it could lift rates again if inflation sticks. Higher rates might help bank margins, but could also hit mortgage demand and put pressure on repayments. The Saturday program still needs to convert extra access into profitable loans.
ANZ is set to pay an interim dividend of 83 Australian cents per share on July 1, franked at 75%. That franking gives eligible shareholders a tax credit on tax the bank’s already paid. The payout adds a solid stream of income for investors.
ASX traders will find out Wednesday if bank stocks keep their defensive bids after another rough global session. ANZ is pushing its home-lending strategy and pointing to recent cost discipline. But the new branch announcement didn’t include any fresh earnings guidance or loan-growth goals.
