ANZ realigns divisional reporting to its 2030 strategy
ANZ Group Holdings Limited announced changes to better align its divisional reporting with how the Group manages customer relationships, allocates resources and measures divisional performance. The changes were implemented during the September 2026 half and will be reflected in the divisional financial information in the Group’s Full Year 2026 reporting.
The Group states the changes will have no impact on statutory profit, cash profit, net assets or capital position. Group totals are unchanged, but the split of earnings between divisions shifts, so investors comparing divisions need the restated base.
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What is changing in the divisions
Home loans move to Business & Private Bank
ANZ has reclassified home loans and associated offset accounts for Business & Private Bank (B&PB) customers from Australia Retail to B&PB, together with the associated revenue and expenses. The change aligns divisional reporting with B&PB’s ownership and management of the Business-Owners Home-Owners (BOHO) customer segment.
In the restatement, BOHO net loans and advances of $79,799M at September 2025 move from Australia Retail to B&PB.
FX and payments revenue follows the customer
A share of Markets’ Foreign Exchange (FX) and Payments & Cash Management (PCM) revenues generated from Australia Retail, B&PB and New Zealand division customers, previously reported in the Institutional division, will now be recognised in the respective Retail and B&PB divisions in Australia and in the New Zealand division.
ANZ says this strengthens accountability and alignment between product manufacturing and distribution.
The payments reallocation sits alongside a broader push into merchant services, with ANZ Worldline now fully owned by the bank after the July 2026 completion, which gives ANZ direct control over a key payments distribution channel.
Group Centre costs and capital reallocated
ANZ has reduced costs and capital in the Group Centre through reallocation to divisions, to better align resource consumption and capital usage with each division’s economic activity and revenue generation. Operating expenses retained in the Group Centre fell from 13% to 9% in the March 2026 half and the September 2025 full year.
The company states this is more consistent with the approach of global peers. Separately, Net Fee and Commission income is now presented on the face of the Income Statement, having previously appeared only in the notes to the financial statements.
Restated numbers: what moves
Prior period divisional information has been restated. The table below shows cash profit for the September 2025 full year, reported versus restated, from Appendix 1.
| Division | Reported ($M) | Restated ($M) |
|---|---|---|
| Australia Retail | 1,048 | 771 |
| Business & Private Bank | 1,302 | 1,456 |
| Institutional | 2,604 | 2,447 |
| New Zealand | 1,609 | 1,622 |
| Group Centre | (1,237) | (970) |
Group cash profit is $5,787M for the September 2025 full year and $3,780M for the March 2026 half. Comparatives for the Suncorp Bank and Pacific divisions are unchanged.
Headline shifts in the restated September 2025 full year figures include:
- B&PB net loans and advances of $146,973M, up from $67,174M reported.
- Australia Retail risk weighted assets of $97,700M, down from $121,084M reported.
- Group Centre operating expenses of $1,141M, down from $1,640M reported.
Why it matters for investors
Divisional reporting breaks Group earnings into the business units that generate them. Cash profit is the measure ANZ uses to assess divisional performance.
Restating prior periods allows like-for-like comparison, because allocation changes alter divisional results without changing Group earnings. Restated cash profit for the September 2025 full year is lower for Australia Retail and Institutional, and higher for B&PB, New Zealand and Group Centre.
What investors should watch
The first reporting to reflect the new divisional information will be the Group’s Full Year 2026 reporting. The restated September 2025 full year and March 2026 half figures in Appendix 2 provide the comparative base.
Leadership of the New Zealand division is also changing, with Ben Kelleher set to succeed Antonia Watson as ANZ New Zealand CEO on her retirement at the end of September 2026.
The changes are intended to give clearer divisional accountability and an allocation approach more consistent with global peers.
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