5 Best ASX Stocks to Buy Now

In this article, we discuss 5 best ASX stocks to buy now. If you want to see more best ASX stocks to buy now, the risk/reward, and methodology of this list, go directly to 10 Best ASX Stocks to Buy Now.

5. ANZ Group Holdings Limited (ASX:ANZ.AX)

Market Capitalization as of 3/20 in Australian Dollars: 67.546 billion

ANZ Group Holdings Limited (ASX:ANZ.AX) is a leading Australian bank that provides banking and financial products and services to more than 8.5 million retail and business customers. Over the years, ANZ Group Holdings Limited (ASX:ANZ.AX) has grown organically thanks to the strong Australian economy and also through M&A. In July of 2022, ANZ Group Holdings Limited (ASX:ANZ.AX) agreed to acquire Suncorp Bank in a deal that hasn’t closed yet but that could help the company grow further if regulators approve, especially in the the Queensland market. Queensland contributes around 18% of Australia’s GDP and the region has had a good history of economic growth and workforce participation since March 2020.

ANZ Group Holdings Limited (ASX:ANZ.AX) CEO Shayne Elliott said, “The acquisition of Suncorp Bank will be a cornerstone investment for ANZ and a vote of confidence in the future of Queensland. With much of the work to simplify and strengthen the bank completed, and our digital transformation well-progressed, we are now in a position to invest in and reshape our Australian business. This will result in a stronger more balanced bank for customers and shareholders.”