Why the ANZ (ASX:ANZ) share price may be a buy

The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price may be a buy according to fund manager Rhett Kessler from Pengana Capital Group (ASX: PCG).

A quick overview of ANZ

ANZ is one of the biggest banks across Australia and New Zealand. It has a market capitalisation of $65.4 billion according to the ASX.

It’s one of Australia’s biggest banks along with Commonwealth Group of Australia (ASX: CBA), Westpac Banking Corp (ASX: WBC) and National Australia Bank Ltd (ASX: NAB).

What happened in the latest result?

ANZ reported its FY20 result to investors just over a month ago.

Its profit had a difficult year with (continuing operations) cash profit falling by 42% to $3.76 billion. Statutory net profit after tax fell…