ANZ to buy-back up to $2 billion of shares

ANZ today announced it intends to buy-back up to $2 billion of shares on-market as part of its capital management plan, subject to market conditions.

The Board has determined that a share buy-back is appropriate taking into account the Group’s strong capital position. APRA has approved the on-market buy-back.

Capital impact

Australia and New Zealand Banking Group Limited’s (ANZBGL) reported Level 1 and Level 2 Common Equity Tier 1 capital (CET1) ratios as at 31 March 2024 were 13.4% and 13.5% respectively.  After taking into account the impact of the Suncorp acquisition and the buy-back, ANZBGL’s pro forma Level 1 and Level 2 CET1 capital ratios as at 31 March 2024 would be 12.2% and 11.8% respectively.

The on-market share buy-back is expected to reduce ANZ’s Level 1 and Level 2 March 2024 CETI ratios by approximately 54 and 46 basis points respectively.[1]

Retail shareholders can contact Computershare for further information on 1800 11 33 99 or +613 9415 4010.

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[1] ANZBGL and its immediate parent ANZ BH Pty Ltd will each undertake a capital reduction of $2 billion when the on-market buy-back of shares by ANZ Group Holdings Limited begins.  APRA has approved these planned capital reductions.