After the challenges of the last few years, 2022 has been particularly eventful for some much more positive reasons.
Notably, ANZ agreed to acquire Suncorp Bank to expand our business in Queensland and better position the bank for the great opportunities the state presents in the years ahead.
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
If you would like more information and insights from ANZ, the twice monthly bluenotes newsletter is free to subscribe below:
O’Sullivan: A solid year with considerable opportunity ahead
ANZ chairman reviews the 2022 year and outlines the bank’s growth opportunities for 2023, commitment to withstanding cyber crime and support for environmental sustainability.
Elliott: An increasingly diversified, lower risk bank well on track
Momentum in Australian home loans, ANZ Plus launched, disciplined growth in NZ, Institutional and Commercial and a continuing simplification and de-risking of the business stood out in 2022.
ANZ Plus to rebuild and rewire Australia Retail
ANZ’s new retail banking proposition ANZ Plus is the beginning of a multi-year plan to deliver improved service to customers.
Suncorp Bank: a transformational advance for ANZ
Acquiring Suncorp Bank is a unique opportunity for ANZ, according to CEO, describing it as “a terrific franchise, a natural fit with ANZ and incredible opportunity to make a meaningful step forward."
A structure to promote ANZ’s purpose and strategy
A plan to introduce a non-operating holding company will create greater transparency and clarity for ANZ’s employees, customers, regulators and investors.
A separate path for Australia Commercial which became a standalone division in March, better preparing ANZ and its business customers for future growth.
A focus on reducing risk
This year’s strong financial result reflects an ongoing focus on making ANZ a less risky bank.
Read, watch, listen:
Bluenotes’ 2022 content stocking for recommendations is here with a special focus on leadership.
Highlighting ANZ’s full-year result
ANZ reported its full-year financial results for 2022. Find everything you need to know about how the bank performed in one place.
Crossing the decades
The Story Bridge may be one of Brisbane’s most notable landmarks but it had to change course to accommodate the pub that sits beneath it. Literally.
A day in pictures: ANZ’s 2022 annual general meeting
A lot of time and preparation went into ANZ’s first AGM with shareholders in person since 2019. Get behind the scenes on how the day came together for the board and management.
ANZ Shareholders Vote in Favour of Scheme of Arrangement to Establish Non-Operating Holding Company
ANZ announces that ANZ shareholders have today voted in favour of the scheme of arrangement (Scheme) to establish ANZ Group Holdings Limited (ANZ NOHC) as the new listed parent company of the ANZ group and to separate ANZ’s banking and certain non-banking businesses into two groups.
Get rich quick - in three simple steps. Act now!
Rapid wealth is hard to obtain, being scammed is getting increasingly easier. Knowing the warning signs of common scams is the best way to protect yourself.
Seeds of Renewal celebrates 20 years
The ANZ and FRRR partnership has donated over $5.5 million in grants to more than 800 community groups in regional Australia.
The future of leadership is kindness
Command and control-style leadership will not help organisations attract and retain talent anymore. Now, the focus must be on empathetic leadership.