The financial year that has just passed us by – FY22 – was something of a mixed bag for ASX shares and the S&P/ASX 200 Index (ASX: XJO). Between 1 July 2021 and 30 June 2022, the ASX 200 went backwards by 10.19%. But how did ASX 200 bank shares do?
ASX banks, of course, form a major constituency of the ASX 200. Indeed, the big four ASX banks are currently the second, fourth, fifth and sixth largest ASX 200 shares on the share market by market capitalisation. Together, these four companies make up almost 20% of the entire ASX 200's weighting as it currently stands.
So if the ASX 200 had such a dreary year, it immediately tells us that it's likely that the ASX banking sector also had a tough FY22. But time to put some numbers to these predictions and see if they are sound.
Here are the 5 best ASX bank shares of FY22
So our fifth-best performing ASX bank share last financial year was none other than Australia and New Zealand Banking Group Ltd (ASX: ANZ). ANZ shares started FY22 at $28.15 but ended up finishing the financial year at just $22.03.
That means ANZ shares gave investors a loss of 21.74% for FY22. Not even ANZ's trailing dividend yield of 6.35 % could make up for a loss like that.
Bendigo and Adelaide Bank Ltd (ASX: BEN) may not be a member of the big four. But it was nonetheless, the fourth-best performing ASX bank share last financial year. Bendigo Bank started out at $10.49 a share but finished up last month at $9.07. That's a loss for FY22 of 13.54%.
Next up we have Commonwealth Bank of Australia (ASX: CBA), the ASX 200's largest bank share by market cap. CBA shares indeed had a rough FY22, beginning at $99.87 but finishing up at $90.38. That's a loss of 9.5%.
Our ASX banking silver medallist is another big four bank in National Australia Bank Ltd (ASX: NAB). NAB was the only big four bank to record a positive share price movement over FY22. NAB shares started July 2021 at $26.22 each but ended up at $27.39 last month. That's a gain of 4.46% for FY22.
The ASX 200's top bank of FY22…
And our best-performing ASX bank share for FY22 is… none other than Macquarie Group Ltd (ASX: MQG). Macquarie is arguably not a bank in the same way the other companies on this list are. Its banking division makes up a small portion of its overall earnings base.
But we can't ignore that Macquarie shares beat out every other ASX banking share over FY22. Macquarie rose from $156.43 to $164.31 over the financial year just gone, a gain of 5.04%.
So that's our five best ASX 200 bank shares of FY22 revealed. It will be interesting to see if these same names top the best banks of FY23. But we'll have to wait and see.
