We also launched ANZ Plus, a completely new retail banking technology platform, which will place us in great stead for the accelerating transition to fully digital banking. ANZ Plus is already the most successful digital banking launch in Australia, in terms of customer growth and deposits taken, with a fully digital home loan already in pilot stage.
And as part of our ongoing work to better align ANZ to support its core banking strategy, shareholders approved a legal reorganisation to enable a non-operating holding company (NOHC) structure. The structure was also approved by the Australian banking regulator, APRA, the Australian Federal Treasurer and the New Zealand regulator, the RBNZ.
This NOHC structure will make us more efficient and more clearly distinguishes the closely regulated banking businesses from our non-banking businesses - which don’t need to be regulated like banks. Nevertheless, APRA retains appropriate visibility over the restructured ANZ group.
Of course, we continue to operate in a very difficult environment with a cycle of interest rate rises across our markets, cost of living pressures impacting our customers and geopolitical tensions crimping global trade and adding considerable volatility to the outlook.
In such circumstances, we delivered an excellent annual result, with all four of our major divisions – retail, commercial, New Zealand and institutional – contributing, a testament to the program of simplification and diversification we have been undertaking for more than six years.
ANZ is in very good shape with an agenda for growth underway.
Our profit of $7.12 billion was up 16 per cent on the prior year with good momentum going into this year. As a result, we were able to declare a fully franked Final Dividend of 74 cents, taking the Total Dividend to 146 cents per share. This was up 4 cents from the prior year and took the total payout to $4.2 billion.
Given the last three years have taught us certainty is something of a mirage, I want to assure you our board and executive are focused on positioning ANZ so it remains in a strong position to help our customers, our staff and of course you, our shareholders, through volatility.
In these stories we bring you all the key presentations from the 2022 annual general meeting, a review of our operating performance, insights from our executive team and stories about our inspirational customers.
Jill Campbell is Group General Manager Investor Relations at ANZ
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