ANZ May Get Consensus Earnings Upgrades From Cash Rate Hikes – Market Talks

ANZ looks to have recorded 3Q FY 2022 cash earnings of A $ 1.6 billion, which is 5% -6% ahead of Citi consensus estimates, Citi analysts Brendan Sproules and Akshat Agrawal say in a research note analyzing ANZ’s latest update. Citi says that its estimates are derived from the “limited disclosures,” and adds that the CET1 figure of 11.1% provided by ANZ was below expectations because of stronger-than-expected lending growth in its Australian division (home and commercial). Still, Citi says “the rapid acceleration of the RBA’s cash rate rises is expected to drive further consensus earnings upgrades for both 4Q FY 2022 and FY 2023.” (alice.uribe@wsj.com)

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