ANZ CEO Shayne Elliot commenting on the full year result
says “Retail banking in Australia faced strong headwinds with housing growth
slowing and borrowing capacity reducing.” The short term outlook expects these challenges
are likely to continue.
However, compared to Commonwealth Bank, NAB, and Westpac, ANZ
appears to be in a comparably good financial position with its CET1 ratio at
11.4% at the end of FY18.
An investment into ANZ is ultimately an investment in the
housing market, and despite a 9% grossed up dividend, its likely that in the short
term prices will continue to decline. Therefore, be patient and keep an eye on ANZ into the new year.
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