Sydney, Feb 18, 2026, 17:04 AEDT — The session wrapped up with the market now closed.
- ANZ slipped 0.33% to finish at A$39.23, marking a second consecutive decline.
- NAB set a new record with its quarterly update, drawing attention to bank margins and capital.
- RBA rate bets are in focus, with ANZ’s half-year numbers also landing May 7.
ANZ Group Holdings Limited (ANZ.AX) slipped 0.33% to close at A$39.23 on Wednesday, down 13 Australian cents. Shares fluctuated between A$39.23 and A$39.81, with roughly 3.47 million changing hands. The S&P/ASX 200, meanwhile, was up around 0.5%.
Why does the pullback matter? Big banks have been propping up the local index, but with earnings season wrapping up, the market’s focus is shifting. National Australia Bank shot up as much as 5.8% to a record high after its Wednesday update, marking the end of February’s “Big Four” reporting cycle—last week, both ANZ and Westpac topped estimates. Citi analysts described NAB’s numbers as a “very strong headline beat,” though they flagged that CET1, that closely watched capital metric, “could remain an overhang”. Reuters
ANZ shares moved with the broader sector and rate sentiment on Wednesday, as the bank didn’t post any ASX market announcement. Net interest margin remains the sticking point—the gap between what banks make on loans and what they shell out for deposits and funding continues to weigh.
ANZ last moved the needle with its first-quarter trading update just a week back, posting a cash profit of A$1.94 billion and trimming expenses by 8%. Net interest margin clocked in at 1.56%, with a CET1 ratio set at 12.15%. CEO Nuno Matos described the ongoing productivity push as “well underway” and pointed to “a significant reduction in expenses while growing revenue.” ANZ
Citi’s Thomas Strong pointed to quicker-than-forecast cost improvements as the key reason for the beat. Jefferies’ Andrew Lyons called out “the real test”: how ANZ handles its net interest margin once it returns to system housing growth. Reuters
ANZ slipped after last week’s rally, finishing Wednesday at its session low. Not a sharp move, but the tone suggests traders are dialing back risk instead of building exposure.
Still, there’s no shortage of pitfalls for the sector’s bullish story. Intense mortgage rivalry threatens to crimp margins, funding doesn’t come cheap these days, and a jump in bad debts would flip the mood fast.
Wages in Australia climbed 0.8% for the December quarter, pushing annual growth to 3.4%, according to figures out Wednesday from the Australian Bureau of Statistics. Inflation hit 3.8% in December. Traders now see roughly a 60% probability the Reserve Bank of Australia will hike rates again in May, Reuters reports.
ANZ circles May 7 for its half-year numbers, with the interim dividend headed ex-dividend on May 18 according to its financial calendar. Cost-cut progress and management’s outlook on loan growth and margins into winter are what investors will be watching.
