ANZ Group reported a rise in net loans and customer deposits in Q3 as lending for homes and businesses remained strong. The bank’s credit risk-weighted assets increased due to growth in home and institutional lending. ANZ shares climbed over 1% to A$32.88, outperforming the S&P/ASX200.

The Australian economy has been stable, with positive business surveys and increased consumer spending. ANZ, Australia’s fourth-largest bank, saw its common equity tier 1 ratio rise to 11.9%. Mortgage payments past due for 90 days or more rose slightly to 88 bps.

ANZ reported a A$19 billion boost in customer deposits, driven by an 8% increase in institutional deposits. Net loans and advances grew 2%. Despite high living costs, home loan delinquencies across major Australian banks remain low. Commonwealth Bank and Westpac also reported growth in lending and deposits.

ANZ CEO Nuno Matos ordered a strategic review into the bank’s operations, focusing on integrating Suncorp’s banking business after the 2024 acquisition. Suncorp’s risk-weighted assets stood at A$34.1 billion in the June quarter. Matos is expected to deliver a strategic briefing before the full-year results on November 10.

Read more at Yahoo Finance: Australian lender ANZ reports rise in Q3 loans and deposits