ANZ Shares Surge to Record as Matos’ Overhaul Boosts Profit

ANZ Group Holdings Ltd.’s first-quarter profit rose and expenses declined, triggering a surge in the shares and signaling some early success for Chief Executive Nuno Matos’ ongoing revamp of the bank.

Cash profit climbed 6% to A$1.94 billion ($1.38 billion) in the three months ended Dec. 31 from a year earlier, according to a statement on Thursday.