ANZ Group on 10 November 2025 reported results for the year to 30 September 2025, its first financial year to include a full 12 months of Suncorp Bank, which it acquired at the end of July 2024. Cash profit after tax was A$5.8 billion after a series of significant items; adjusted for those items, cash profit was stable year on year at A$6.9 billion.
Chief Financial Officer Farhan Faruqui said revenue grew 7%, largely reflecting a full-year contribution from Suncorp Bank compared with two months in the 2024 financial year. The significant items included a A$585 million restructuring charge for staff redundancies, A$271 million related to ASIC matters, a A$285 million impairment of the group's investment in Indonesia's PT Panin Bank, a A$78 million goodwill impact from winding down Cashrewards, and an additional A$97 million restructuring charge associated with bringing forward the integration of Suncorp Bank to June 2027.
SYNERGIES AND INTEGRATION COSTS
ANZ said it had realised about A$30 million of synergies since completing the acquisition, mainly from removing duplicated project spending, technology vendor efficiencies and property consolidation. Faruqui said the benefits were relatively small to date and were expected to increase modestly in FY26, with most of the targeted A$500 million of synergies to be captured in FY28 and the full-year benefit in FY29.
The bank expects total Suncorp Bank integration costs of A$745 million, of which about A$300 million had been incurred, with the remaining spending phased across FY26 and FY27 at about A$200 million a year. Chief Executive Nuno Matos said the migration of Suncorp Bank customers to ANZ would be completed by June 2027. ANZ also recorded a A$141 million increase in goodwill in the second half as it finalised the acquisition accounting for Suncorp Bank.
ROUTE TO COMPLETION
ANZ announced the acquisition in July 2022. The Australian Competition and Consumer Commission declined to authorise the deal in August 2023, but the Australian Competition Tribunal granted authorisation in February 2024, and the acquisition completed on 31 July 2024. Matos said Suncorp Bank's customer base had grown by almost 5% to about 1.3 million since the deal was announced.