The bank’s productivity program is underway, said CEO Nuno Matos.

ANZ has announced a cash profit of $1.38b (A$1.94b) for the Q1 2026 period that ended on 31 December 2025.

Cash profit was 75% higher than the quarterly average in the second half of the 2025 financial year (April to September 2025), the Australian bank said in its trading update published on 12 February 2026.

Deposits rose 5% year-on-year (YoY) to $561.59b (A$787b) in December, whilst net loans and cash advances inched up 0.3% YoY to $587.27b (A$837b) over the same period.

Common equity tier 1 (CET1) ratio was 12.15%, up 12 basis points (bps) from September 2025.

Cost-to-income ratio is 49.5%, lower from H2 2025’s quarterly average of 65.5%.

Return on equity (ROE) is 10.8% in Q1 2026, higher than the 6.1% quarterly average in the H2 2025 period.

ANZ’s Q1 2026 result shows early progress of the bank’s 2030 strategy, said CEO Nuno Matos.

“Our productivity program aimed at removing duplication and simplifying the bank is well underway, delivering a significant reduction in expenses while growing revenue,” Matos said in a written statement.

Matos noted improvement across ANZ’s key financial metrics, particularly the higher return on tangible equity and lower cost-to-income ratio.

“Looking ahead, we continue to be fully engaged in executing our ANZ 2030 strategy. This is the beginning of our five-year journey to become the best bank for customers and shareholders in Australia and New Zealand,” Matos said.