ANZ Group Holdings Ltd
ANZ: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$32.00 | Twrsm | Jxmytct |
ANZ Group: Profitability Tracking Ahead of Expectations on Low Bad Debts and Solid Loan Growth
We reiterate our AUD 31 fair value estimate for wide-moat ANZ Group. The first-quarter 2024 update revealed revenue in line with the quarterly average of first half 2023, with loan growth offsetting unquantified net interest margin, or NIM, pressure. This is positive in our view, given elevated price competition for mortgages and deposits.