Top 5 ASX 200 Financial Stocks for FY25 – CBA Surprisingly Excluded!

2025-08-31 09:41:57

ASX 200
financial
shares outperformed their peers in FY25, with the

S&P/ASX 200 Financials Index

soaring 24.45% in value.

If we add
dividend
income, the sector’s total gross return was 29.39%. This made financials the best performer of the 11
market sectors
.

By comparison, the benchmark

S&P/ASX 200 Index

(ASX: XJO) lifted 9.97% and provided total gross returns of 13.81% over the year.

After all the hype over

Commonwealth Bank of Australia

(
ASX: CBA
) shares and their seemingly unstoppable northward trajectory, you may assume the big four bank made the list of the top five ASX 200 financial stocks of the year.

But it ain’t the case.

Here are the outperforming ASX 200 financial shares of FY25 for price growth.

Best 5 ASX 200 financial shares of FY25

1.


Generation Development Group Ltd

(
ASX: GDG
)

ASX 200
small-cap
financial share, Generation Development Group, leapt 114% to close at $5.50 on 30 June.

Generation Development Group
is a market leader in
retirement
and investment solutions, including bonds.

Blackwattle Small Cap Quality Fund portfolio managers Robert Hawkesford and Daniel Broeren
see further tailwinds ahead
.

The analysts say
superannuation
tax reform is now likely, which would make investment bonds more attractive.

They’re also positive about Generation Development’s new
strategic alliance
with US global asset management giant,

Blackrock

.

Hawkesford and Broeren said:

Despite the recent share price run, we still see plenty more upside as GDG capitalises on the structural tailwinds of managed account penetration, superannuation tax reform and the retirement income covenant.

2.

Zip Co Ltd (
ASX: ZIP
)

Zip is a key player in the global
buy now, pay later
payments industry.

The Zip share price rose by 110% to finish the year at $3.07 per share.

This company has turned itself around over recent years after shifting its focus from mass-global network growth to profitability.

Last month, the ASX 200 financial share ripped on
upgraded earnings guidance for FY25
.

Zip now expects to deliver cash earnings before tax and depreciation (EBTDA) of at least $160 million.

The prior guidance was at least $153 million.

The company also said its FY25 earnings are tracking within its two-year target ranges.

3.

Hub24 Ltd (
ASX: HUB
)

HUB24 operates an investment and
superannuation
platform.

The Hub24 share price rose by 92% to finish the year at $89.17 per share.

Today, the ASX 200 financial share hit a new all-time high of $96.21.

Tony Paterno from Ord Minnett has a sell rating on this ASX 200 financial share —
find out why
.

4.

Insignia Financial Ltd (
ASX: IFL
)

The Insignia share price ascended 59% to close at $3.63 per share on 30 June.

The financial services company was pursued by two takeover suitors in FY25 —

Bain Capital Private Equity

and CC Capital Partners.

Bain pulled out in May, with Insignia saying this was due to "
macro uncertainty caused by the volatility in global capital markets
".

Insignia Financial is still in discussions with CC Capital Partners and issued an
update
on this last week.

Insignia said:

CC Capital has informed Insignia Financial that it continues to actively work towards making a binding bid for the company. Specifically, CC Capital is finalising financing and investment committee approvals, a process that is expected to be completed in the next two weeks.

Investors were pleased by the update, with the ASX 200 financial stock lifting 5% on the news.

5.

Netwealth Group Ltd (
ASX: NWL
)

Netwealth operates a wealth management business and provides superannuation and investment administration platforms.

Netwealth shares lifted 52% to close at $33.59 per share on 30 June.

The Netwealth share price has since gone further, rising to a record high of $35.10 today.

Paterno also has a sell rating on this ASX 200 financial share.

What about CBA shares?

CBA shares rose by 45% to finish the year at $185 on 30 June.

The CBA share price hit a
record high of $192 per share
a few days earlier.

It was the 7th best-performing ASX 200 financial share overall.

The post
5 best ASX 200 financial shares of FY25 (CBA didn’t make the cut!)
appeared first on
The Motley Fool Australia
.

More reading

• $1 in every $11 for CBA: Should you still buy the Vanguard Australian Shares ETF (VAS)?
• Why it’s time to sell IAG and 2 other ASX 200 financial shares: brokers
• Major CBA investor reveals why he’s all in
• Here are the top 10 ASX 200 shares today
• Why Bellevue Gold, Cobram, Hub24, and Nanosonics shares are pushing higher

Motley Fool
contributor
Bronwyn Allen
has positions in Zip Co. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24, Netwealth Group, and Zip Co. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool Australia has recommended Generation Development Group and Hub24. The Motley Fool has a
disclosure policy
. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.