“We’ve really been focused on productivity across the group and costs are down 1.5 per cent on the second half of last year,” Jablko said. “On top of that we’ve also had the benefit this half of lower provisions.”
She said credit quality across ANZ’s business had been broadly the same as it had been in the second half of last year.
Jablko said the bank’s decision to strengthen its balance sheet and improve its risk-adjusted returns had impacted its margins somewhat.
“On top of that market conditions are pretty competitive and I expect that to stay the case,” she said.
Jablko also touched on the benefits of the bank’s divestment program, as well as dividend and capital management. Watch the video above to find out more.
Andrew Cornell is managing editor at BlueNotes