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2025-11-03 08:55:38
[Citigroup Maintains "Neutral" Rating on ANZ, Target Price Set at A$37.00] Citigroup analyst Thomas Strong stated that he was not surprised by the potential additional charges in ANZ's second-half financial results forecast. He pointed out that since most of the major projects involving A$1.1 billion were already known to the market, investors are expected to focus primarily on the bank's core business performance and ignore the impact of these one-off items. In a client report, Strong specifically analyzed that the A$285 million impairment charge on PT Panin shares was in line with the performance expectations of that investment project. Meanwhile, the A$68 million charge related to the SunCorp Bank system migration and the A$78 million goodwill impairment were both in line with the bank's previously disclosed strategic planning direction. Citigroup maintains its "Neutral" rating on ANZ, with a target price of A$37.00.
