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Australia's ANZ's impaired assets rise in the first quarter, shares fall

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ANZ Group , Australia's fourth-biggest lender, said on Thursday that asset impairments jumped to their highest levels since 2021 in the first quarter, driven primarily by mortgages, sending its shares down 3%.
ANZ Group Holdings reported an increase in impaired assets during the first quarter of 2025, as detailed in their financial update. The rise in impaired assets was attributed to a challenging economic environment, with specific sectors like commercial real estate and agriculture showing higher stress levels. Despite this, ANZ's CEO, Shayne Elliott, expressed confidence in the bank's overall asset quality and its ability to manage risk, highlighting that the bank's capital position remained strong. The bank also noted that while there was an uptick in provisions for potential loan losses, the overall credit quality remained stable, supported by a diversified loan portfolio and robust risk management practices.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/australias-anz-says-impaired-assets-rose-first-quarter-2025-02-19/ ]