ANZ banks on $2.5bn transformation
The lender is pitching its new ANZ Plus platform as cheaper, faster and more compliant with regulation, as it prepares to transition customers to the new system.
Anz Bank
ANZ taps AI to build a better bank
ANZ bank has invested $2.5bn into its new online-only products and CEO Shayne Elliott says his team of software engineers has used AI to write code for apps and other programs.
Government keen for ANZ to keep services in Pacific region
Labor is on the cusp of closing a major deal with ANZ to ensure the bank does not follow some of its rivals and withdraw services from the Pacific, creating a potential opportunity for China.
Fonterra to launch $2bn dual track process in early 2025
Overall, Fonterra has flagged $4bn of assets for divestment globally, about half of which are in its ANZ unit.
Scrutiny on private credit regulation, as ASIC action looms
The financial regulator has signalled its interest in the growing sector, pinning private credit and private markets as a priority for this year.
Bond scandal consequences: ANZ CEO loses $1.1m in bonuses
The lending major also revealed it sacked 88 staff last year for breaching the bank’s code of conduct.
Crunch time has arrived for ANZ’s Shayne Elliott
There’s a full slate of career-defining issues coming directly at the ANZ boss. For a CEO heading into his ninth year, it should be much smoother.
Peak consumer stress has passed: ANZ boss
The scandal-hit banking giant says the Australian economy is still strong, with high jobs growth and a low number of bad loans.
ASX 200 rises on record day for CBA; Block down
Super fund HESTA demands early exit for MinRes CEO Chris Ellison as partner Albemarle ramps up pressure. Scandal-hit ANZ’s cash profit drops. Cuscal kicks off $336.8m IPO roadshow. Block down on revenue miss.
ANZ boss’ long-winded apology over bond scandal
Documents show ANZ chief executive Shayne Elliott spent more than 13 minutes apologising to the Office of Financial Management for the $14bn bond scandal.
ASX 200 up; MinRes dives on Ellison ‘mistakes’
MinRes takeover/break-up not ruled out as billionaire boss Chris Ellison’s exit plan takes shape. AFP enter PwC Australia offices as part of confidential breach probe. Westpac down on dividend miss, high costs.
Risky business: Inside ANZ’s bonds blow-up
ANZ’s revamp of its bond market strategy in 2022 sparked a crisis in its trading team, with some stars quitting and others resorting to risky tactics to deliver profits. Now, the corporate watchdog is investigating.
ASIC’s decision on ANZ probe ‘months away’
Corporate regulator ASIC says any decision about its investigation into ANZ is still months away, and says it needs more funding to run costly criminal investigations and prosecutions.
ANZ ramps up search for CEO replacement
The bank’s board has headhunting firm Spencer Stuart leading the search to replace longstanding chief executive Shayne Elliott, as it navigates immense regulatory scrutiny.
Suncorp Bank integration on track as ANZ tipped for $7bn profit
ANZ says it hasn’t come across any surprises since acquiring Suncorp’s banking unit for $4.9bn, despite disclosing a $196m charge impacting its second-half earnings result.
Major bank’s new move on rates
A big four bank will reduce interest rates by up to 0.25 per cent, but you’ll need to meet this strict criteria.
ASX ends flat despite US futures jump
The sharemarket was flat on light volumes as investors awaited key inflation data. Mosaic Brands enters receivership with KPMG appointed. ASX Limited hit by first strike against remuneration report.
Customers fume over big four bank’s closure
Customers have slammed a big four bank for its “outrageous disregard” after it closed a local branch, forcing them to drive 1.5 hours to do their banking.
ASX rises; WiseTech, MinRes tank on CEO drama
Local shares rally after Friday’s sell-off as US remains resilient. WiseTech dives as Board investigates allegations against CEO Richard White. Retailers down as Nick Scali drops on profit warning. MinRes shares hit as Board backs CEO Chris Ellison amid investigation over alleged tax evasion. Vulcan issues profit warning.
ANZ plays the long game in Asia on returns, customer relationships
Can ANZ pull off its Asia growth story? The institutional banking unit is giving it a shot and does house a number of big-name customers, including Toyota.
Shares retreat from record as commodities weigh on bourse
Tightening supplies of raw materials may magnify a rise in prices if China’s stimulus measures manage to lift growth in the world’s No.2 economy and biggest consumer of most commodities.
ANZ taps consulting firm for culture, governance deep dive
Oliver Wyman, which reported on CBA’s governance in 2018, will conduct a sweeping review of culture and risk governance in ANZ’s embattled institutional division.
Accenture Song reveals new leadership for local business
Accenture Song’s Bronwyn van de Merwe and Matt Michael will replace Mark Green assuming the ANZ business lead and Droga5 chief executive role, respectively.
ASIC hunting ANZ bond data, documents show
Documents released under a freedom of information application show ASIC in August sought ANZ reports into secondary market transactions in government bonds, for which it is under scrutiny.
Dry spell: NAB bans booze ahead of silly season
Access to alcohol, previously a mainstay of midweek work functions, is now being restricted across NAB, with teams put on notice over the ban.
ANZ boss signals successor strategy is on track
ANZ chief Shayne Elliott doesn’t expect to remain in the top job to see through a multi-year integration of Suncorp’s bank, as he hinted at a potential changeover in 2025.
Big bank pays out $85m in car loan fiasco
One of Australia’s biggest banks has agreed to a whopping $85 million settlement over an alleged car loan fiasco.
Miners drag on ASX 200; Woodside, Mesoblast up
US President Joe Biden triggers oil price jump. Mesoblast top gainer. Sinopec wants price review on APLNG deal. Platinum grants Regal access for higher offer. Ratings upgrade for Cochlear. Optimism underpinning latest Bendigo Bank, UBS forecasts.
Big changes on the way for chastened ANZ
ANZ chief Shayne Elliott has vowed to make a significant number of changes to his bank’s policies and practices before the year’s end.
Share flop ruling puts ANZ in crosshairs
ASIC has warned ANZ’s board needs to carefully consider its compliance culture, after the bank’s failed appeal against a finding it misled the market over a $2.5bn share raising.
Original URL: https://www.theaustralian.com.au/topics/anz-bank/page/3