ANZ has announced some 3,500 jobs will be cut over the next twelve months in a $560 million restructure, which will also see consultant numbers trimmed.
Federal Treasurer Jim Chalmers will take his time to consider ANZ's acquisition of Suncorp Bank, after a tribunal overruled the consumer watchdog's refusal of the $4.9 billion sale.
The competition regulator has blocked ANZ's acquisition of Suncorp's banking arm in what was a $4.9 billion transaction that would have shaken up the banking industry.
ANZ has posted a sharp lift in full-year profit despite underperformance in its home loans business, thanks to a robust lending market and reversal of some COVID-related provisions.
ANZ has posted a sharp rebound in first-half profit and boosted its dividend, helped by a recovery among business customers and robust activity in the housing market.
ANZ Banking Group will hold off paying shareholders an interim dividend as its first-half cash profit plunges 62 per cent on a $1 billion COVID-19 hit, and the prospect of more pain to come.
ANZ Banking Group has beaten expectations to lift first-half cash profit two per cent to $3.56 billion but warned subdued credit growth, competition and compliance costs will keep bank sector earnings under pressure "for the foreseeable future".
ANZ Banking Group chief executive Shayne Elliott says structural issues and internal processes should cop the brunt of the blame for misconduct across the banking sector, and not a few people with bad intentions.
National Australia Bank is scrapping its overhauled executive pay structure in response to an overwhelming first strike in which more than 80 per cent of shareholders voted against it.
ANZ has announced its full-year cash profit has dropped 5 per cent to $6.5 billion, as the bank simplifies operations and prepares for customer remediation in the wake of the royal commission.
ANZ is aiming to clean up its financial planning with new measures that include firing planners who give customers inappropriate advice and removing all sales incentives from its bonus structures.
ANZ Banking Group chief executive Shayne Elliott says the lender is watching its mortgage book "like a hawk" for signs of stress as households rack up record debt to meet rising house prices.
The balancing act that allowed Australia's big four banks to lift their combined first-half cash profit to $15.6 billion is getting more precarious, analysts say.
ANZ Banking Group shares have tumbled as much as 3 per cent after the lender fell short of most analysts' expectations with a first-half profit of $3.4 billion.
ANZ Banking Group says it will try to find new jobs for the approximately 180 employees at its share trading business that has been sold to UK-listed CMC Markets.
ANZ Banking Group chief executive Shayne Elliott is optimistic about prospects for the rest of the financial year after the lender lifted its first-quarter cash profit 31 per cent to $2 billion.
ANZ Banking Group has pledged to consider cutting credit card rates and stopping its millions of dollars in political donations, as its boss apologised for failing customers.
ANZ Banking Group's cash profit has slipped 3 per cent in the first nine months of its financial year, weighed down by restructuring charges and bad debts.
