Australia and New Zealand Banking Group Ltd
F:ANB
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Australia and New Zealand Banking Group Ltd
Australia and New Zealand Banking Group, or ANZ, is one of the major banks in Australia and New Zealand. It takes deposits, makes home and business loans, issues credit cards, and handles everyday banking through branches, online channels, and mobile apps. It also serves larger companies and institutions with cash management, trade finance, foreign exchange, and other banking services. ANZ makes most of its money from the spread between what it pays for funding, such as customer deposits, and what it earns on loans and other credit products. It also earns fees from account services, payment services, cards, wealth products, and institutional banking activities. In simple terms, it is a financial middleman that gathers savings and turns them into loans and payment services for households and businesses. What makes ANZ’s business model distinctive is its role as a large, regulated deposit-taking bank tied closely to the everyday economy. It sits at the center of lending, payments, and trade flows in its core markets, so it serves both ordinary consumers and big corporate clients. That mix gives it a broad base of customers and ties its fortunes to credit demand, interest rates, and the health of the Australian and New Zealand banking systems.
Australia and New Zealand Banking Group, or ANZ, is one of the major banks in Australia and New Zealand. It takes deposits, makes home and business loans, issues credit cards, and handles everyday banking through branches, online channels, and mobile apps. It also serves larger companies and institutions with cash management, trade finance, foreign exchange, and other banking services.
ANZ makes most of its money from the spread between what it pays for funding, such as customer deposits, and what it earns on loans and other credit products. It also earns fees from account services, payment services, cards, wealth products, and institutional banking activities. In simple terms, it is a financial middleman that gathers savings and turns them into loans and payment services for households and businesses.
What makes ANZ’s business model distinctive is its role as a large, regulated deposit-taking bank tied closely to the everyday economy. It sits at the center of lending, payments, and trade flows in its core markets, so it serves both ordinary consumers and big corporate clients. That mix gives it a broad base of customers and ties its fortunes to credit demand, interest rates, and the health of the Australian and New Zealand banking systems.
Profit and returns: ANZ said first-half cash profit after tax was $3.8 billion, with return on tangible equity up 161 basis points to 11.6%. Management said the bank is already delivering better returns as the turnaround strategy takes hold.
Costs fell: Operating expenses were down 9% half-on-half, and the cost-to-income ratio improved to 49.4%. ANZ now expects FY '26 costs to be down about 5% from its $11.85 billion FY '25 cost base.
Capital and dividends: CET1 rose to 12.39%, the interim dividend was held at $0.83 per share, and franking increased to 75% from 70%. ANZ said it will not apply a discount to the interim DRP.
Growth strategy: Management repeatedly stressed that the bank is prioritizing profitable growth over volume for its own sake, with a focus on rebuilding retail and business banking while continuing to lean on institutional and New Zealand.
Macro caution: Executives said the Middle East conflict and higher transport and fuel costs are creating uncertainty, but direct exposure is limited and the current impact on credit, capital and liquidity has been minimal so far.
Questions from analysts: Analysts pressed management on mortgage growth, margins, capital sensitivity, and Suncorp integration. ANZ said mortgage growth will be pursued profitably, not through across-the-board discounting.
Management
Shayne Cary Elliott is a prominent banking executive and the former Chief Executive Officer (CEO) of the Australia and New Zealand Banking Group Limited (ANZ), one of the largest banks in Australia. He was appointed CEO in January 2016, succeeding Michael Smith. Before becoming CEO, Elliott held several key positions within ANZ since joining the bank in June 2009 as the Chief Financial Officer (CFO). Born in New Zealand and educated at the University of Auckland, Shayne Elliott earned a Bachelor of Commerce (B.Com.) degree, majoring in management studies and finance. His career in banking spans over three decades, with extensive experience in various financial services roles across New Zealand, Australia, Asia, the Middle East, and the United States. Before joining ANZ, Elliott spent approximately 20 years at Citibank, where he held senior executive roles that included serving as the CEO of Citibank's Global Transaction Services business and as its Managing Director of Asia Pacific. Under Elliott’s leadership, ANZ underwent significant strategic changes, focusing on simplifying its operations and expanding in the Asia-Pacific region. His tenure is marked by efforts to adapt to the rapidly changing financial landscape, emphasizing digital transformation and customer-centric approaches within the bank. Elliott is known for his straightforward communication style and keen insight into global financial markets. His leadership has been crucial in steering ANZ through dynamic industry changes and maintaining its competitive edge in the global banking sector.
Born in New Zealand and educated at the University of Auckland, Shayne Elliott earned a Bachelor of Commerce (B.Com.) degree, majoring in management studies and finance. His career in banking spans over three decades, with extensive experience in various financial services roles across New Zealand, Australia, Asia, the Middle East, and the United States.
Before joining ANZ, Elliott spent approximately 20 years at Citibank, where he held senior executive roles that included serving as the CEO of Citibank's Global Transaction Services business and as its Managing Director of Asia Pacific.
Under Elliott’s leadership, ANZ underwent significant strategic changes, focusing on simplifying its operations and expanding in the Asia-Pacific region. His tenure is marked by efforts to adapt to the rapidly changing financial landscape, emphasizing digital transformation and customer-centric approaches within the bank.
Elliott is known for his straightforward communication style and keen insight into global financial markets. His leadership has been crucial in steering ANZ through dynamic industry changes and maintaining its competitive edge in the global banking sector.
Farhan Faruqui is a prominent figure in the banking industry and has been associated with Australia and New Zealand Banking Group Ltd (ANZ). He serves as the Chief Financial Officer (CFO) at ANZ, a role that puts him at the helm of managing the bank's financial operations, strategies, and reporting. Before becoming CFO in January 2021, Faruqui was ANZ’s Group Executive for International, a position that involved overseeing ANZ's business activities in Asia, Europe, America and the Middle East. Faruqui brings a wealth of experience to ANZ, with a career spanning various roles in banking and finance. He joined ANZ from Citigroup, where he held numerous senior leadership positions, including Head of Corporate and Investment Banking for Asia-Pacific. With a strong background in international banking, Faruqui has specialized in overseeing large, complex operations and has developed expertise in navigating diverse regulatory environments. His leadership at ANZ is marked by a focus on strategic financial management, enhancing shareholder value, and ensuring the bank's financial stability and compliance. Faruqui holds a notable academic background and is respected for his ability to foster growth and drive financial performance in the dynamic banking sector.
Faruqui brings a wealth of experience to ANZ, with a career spanning various roles in banking and finance. He joined ANZ from Citigroup, where he held numerous senior leadership positions, including Head of Corporate and Investment Banking for Asia-Pacific. With a strong background in international banking, Faruqui has specialized in overseeing large, complex operations and has developed expertise in navigating diverse regulatory environments.
His leadership at ANZ is marked by a focus on strategic financial management, enhancing shareholder value, and ensuring the bank's financial stability and compliance. Faruqui holds a notable academic background and is respected for his ability to foster growth and drive financial performance in the dynamic banking sector.
Mark Whelan is a prominent executive at Australia and New Zealand Banking Group Ltd (ANZ). He has held various significant roles within the organization. Whelan is recognized for his leadership in the banking and financial services industry, particularly within the Asia-Pacific region. He joined ANZ in 2004 and has since contributed to the bank in various capacities, leveraging his extensive experience in finance and strategic planning. Whelan has been known for his focus on institutional banking and his efforts to drive growth and efficiency within the bank's operations. His leadership strategy often emphasizes customer-centric approaches and innovation in banking services. Throughout his tenure, he has been involved in several key initiatives aimed at enhancing ANZ's product offerings and expanding its market reach. Whelan's strategic vision and operational expertise have been instrumental in navigating the bank through complex financial landscapes and fostering a culture of excellence and accountability. In addition to his role at ANZ, Whelan has also been active in various industry forums and contributes to policy discussions relevant to the banking sector. His insights and experience make him a respected figure in the financial community.
He joined ANZ in 2004 and has since contributed to the bank in various capacities, leveraging his extensive experience in finance and strategic planning. Whelan has been known for his focus on institutional banking and his efforts to drive growth and efficiency within the bank's operations. His leadership strategy often emphasizes customer-centric approaches and innovation in banking services.
Throughout his tenure, he has been involved in several key initiatives aimed at enhancing ANZ's product offerings and expanding its market reach. Whelan's strategic vision and operational expertise have been instrumental in navigating the bank through complex financial landscapes and fostering a culture of excellence and accountability.
In addition to his role at ANZ, Whelan has also been active in various industry forums and contributes to policy discussions relevant to the banking sector. His insights and experience make him a respected figure in the financial community.
Maile Carnegie is a well-regarded business executive known for her leadership roles in the financial and technology sectors. She is currently serving as a Group Executive at Australia and New Zealand Banking Group Ltd (ANZ). In her role at ANZ, she has been responsible for overseeing various strategic initiatives aimed at transforming the bank's approach to digital banking and enhancing customer experience through technological innovation. Before joining ANZ, Maile Carnegie was the Managing Director of Google Australia and New Zealand, where she led efforts to drive digital transformation and broaden internet accessibility and literacy across the region. Her experience at Google equipped her with deep insights into the technology sector, which she later leveraged to help ANZ adapt to the fast-evolving digital landscape of banking. Carnegie is known for her strategic vision and ability to drive change, fostering a culture of innovation and agility within large organizations. Her leadership style emphasizes the importance of embracing technology to improve business operations and customer experiences. Carnegie's background also includes significant experience in marketing and general management, having worked in various senior roles at Procter & Gamble for nearly two decades. Her work has been influential in positioning ANZ as a forward-thinking bank that prioritizes digital solutions and customer-centric approaches. Carnegie holds a Bachelor of Commerce from the University of New South Wales, further underpinning her strong foundation in business and management.
Before joining ANZ, Maile Carnegie was the Managing Director of Google Australia and New Zealand, where she led efforts to drive digital transformation and broaden internet accessibility and literacy across the region. Her experience at Google equipped her with deep insights into the technology sector, which she later leveraged to help ANZ adapt to the fast-evolving digital landscape of banking.
Carnegie is known for her strategic vision and ability to drive change, fostering a culture of innovation and agility within large organizations. Her leadership style emphasizes the importance of embracing technology to improve business operations and customer experiences. Carnegie's background also includes significant experience in marketing and general management, having worked in various senior roles at Procter & Gamble for nearly two decades.
Her work has been influential in positioning ANZ as a forward-thinking bank that prioritizes digital solutions and customer-centric approaches. Carnegie holds a Bachelor of Commerce from the University of New South Wales, further underpinning her strong foundation in business and management.
Kevin Paul Corbally is a senior executive at the Australia and New Zealand Banking Group Ltd (ANZ). He serves as the Chief Risk Officer, a position he has held since 2017. In this role, Corbally is responsible for overseeing the bank's risk management strategy and framework, ensuring that risks are identified, assessed, and managed within the bank's risk appetite. He plays a crucial part in maintaining the financial institution's stability by addressing various risk components, such as credit, market, operational, and compliance risks. Before becoming Chief Risk Officer, Corbally built an extensive career within ANZ, holding various positions that enriched his expertise in risk management and financial services. His experience at ANZ includes roles in institutional banking, retail banking, and credit and market risk management. Corbally's leadership and deep understanding of the banking industry contribute significantly to ANZ's ability to navigate complex regulatory environments and maintain its reputation as a leading bank in the Asia-Pacific region. Kevin Corbally holds a strong educational background that supports his role in risk management, having earned a degree in commerce and an Executive MBA. His leadership and strategic vision are instrumental in aligning ANZ's risk management approaches with its broader business objectives.
Before becoming Chief Risk Officer, Corbally built an extensive career within ANZ, holding various positions that enriched his expertise in risk management and financial services. His experience at ANZ includes roles in institutional banking, retail banking, and credit and market risk management. Corbally's leadership and deep understanding of the banking industry contribute significantly to ANZ's ability to navigate complex regulatory environments and maintain its reputation as a leading bank in the Asia-Pacific region.
Kevin Corbally holds a strong educational background that supports his role in risk management, having earned a degree in commerce and an Executive MBA. His leadership and strategic vision are instrumental in aligning ANZ's risk management approaches with its broader business objectives.
Gerard Florian is the Group Executive responsible for Technology at Australia and New Zealand Banking Group Ltd (ANZ). He joined ANZ in 2017 and plays a pivotal role in the bank’s digital transformation strategy, overseeing technology operations, infrastructure, and innovation initiatives. With a focus on enhancing customer experiences through technology, he drives projects related to cloud computing, data analytics, and cybersecurity. Before joining ANZ, Gerard Florian had an extensive career in IT and telecommunications. He served as the Chief Strategy Officer and Chief Technology Officer for Dimension Data, where he led strategic planning and technology alliances. His experience also includes leadership positions in various tech-driven enterprises, where he specialized in fostering growth through emerging technologies. Gerard Florian is known for his forward-thinking approach and advocacy for cultural change within organizations, emphasizing agility, security, and resilience in technology infrastructure. His leadership extends beyond technology into mentoring and developing talent within his teams, contributing to the financial sector's modernization efforts.
Before joining ANZ, Gerard Florian had an extensive career in IT and telecommunications. He served as the Chief Strategy Officer and Chief Technology Officer for Dimension Data, where he led strategic planning and technology alliances. His experience also includes leadership positions in various tech-driven enterprises, where he specialized in fostering growth through emerging technologies.
Gerard Florian is known for his forward-thinking approach and advocacy for cultural change within organizations, emphasizing agility, security, and resilience in technology infrastructure. His leadership extends beyond technology into mentoring and developing talent within his teams, contributing to the financial sector's modernization efforts.
Antony Strong is the CFO International at ANZ Banking Group Ltd. He is responsible for all aspects of Finance across ANZ's International business, encompassing 15 geographies outside of Australia, New Zealand, and the Pacific. Antony joined ANZ in 2007 and has held various positions within the company, including Group General Manager Internal Audit and CFO roles in Asia Pacific, Europe, and America. Before joining ANZ, he worked at KPMG for over 15 years, gaining experience in roles across New Zealand, Canada, and Hungary. Antony is a Chartered Accountant and holds a Bachelor of Commerce degree from the University of Auckland in New Zealand.
Clare Morgan is an executive at the Australia and New Zealand Banking Group Ltd (ANZ). She serves as the General Manager of Digital Transformation and Performance, where she plays a critical role in driving ANZ's digital strategy and initiatives. Clare is responsible for overseeing the bank's digital transformation efforts, ensuring that they align with customer needs and the overall strategic vision of the organization. Her work involves enhancing the digital experience for ANZ's customers while improving operational efficiency and performance within the bank. Clare Morgan's leadership in digital transformation is pivotal in adapting ANZ to the fast-evolving financial technology landscape.
Phoebe O'Sullivan is a prominent executive at the Australia and New Zealand Banking Group Ltd (ANZ). With a strong background in finance and banking, she has played a significant role in shaping the strategic direction of the bank. O'Sullivan is known for her expertise in financial management, risk assessment, and strategic planning, making substantial contributions to ANZ's operations and growth. Her leadership style emphasizes innovation, customer-centric services, and sustainability, aligning with ANZ's objectives to enhance its market position and deliver exceptional value to its stakeholders. O'Sullivan's commitment to excellence and her strategic insight have been crucial in steering ANZ through various market challenges and positioning it for future success. Throughout her tenure at ANZ, Phoebe O'Sullivan has been recognized for her ability to lead diverse teams and drive transformative initiatives that support the bank's long-term vision. Her influence extends beyond ANZ as she actively participates in various industry forums and contributes to discussions on the future of banking and finance.
Her leadership style emphasizes innovation, customer-centric services, and sustainability, aligning with ANZ's objectives to enhance its market position and deliver exceptional value to its stakeholders. O'Sullivan's commitment to excellence and her strategic insight have been crucial in steering ANZ through various market challenges and positioning it for future success.
Throughout her tenure at ANZ, Phoebe O'Sullivan has been recognized for her ability to lead diverse teams and drive transformative initiatives that support the bank's long-term vision. Her influence extends beyond ANZ as she actively participates in various industry forums and contributes to discussions on the future of banking and finance.
Elisa Clements is an executive at the Australia and New Zealand Banking Group Ltd (ANZ), where she holds a prominent leadership position. She serves as the Chief Executive Officer for ANZ's business in Queensland and Northern Territory. In this role, Elisa is responsible for overseeing the bank's operations and strategy in these regions, focusing on enhancing customer relationships and driving business growth. With a wealth of experience in the banking and finance sector, Elisa Clements has held various senior roles within ANZ, exhibiting a strong track record in leadership and business development. Her career has been marked by her ability to navigate complex financial environments and implement innovative solutions that meet client needs while supporting the bank's strategic objectives. Elisa is known for her commitment to fostering a customer-centric culture within the organization and for her efforts in promoting diversity and inclusion in the workplace. Her leadership style emphasizes collaboration and strategic planning, which have been instrumental in her success in various roles at ANZ.
With a wealth of experience in the banking and finance sector, Elisa Clements has held various senior roles within ANZ, exhibiting a strong track record in leadership and business development. Her career has been marked by her ability to navigate complex financial environments and implement innovative solutions that meet client needs while supporting the bank's strategic objectives.
Elisa is known for her commitment to fostering a customer-centric culture within the organization and for her efforts in promoting diversity and inclusion in the workplace. Her leadership style emphasizes collaboration and strategic planning, which have been instrumental in her success in various roles at ANZ.
