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ANZ Bank

ASX:ANZ

Page 4







Shareholders have delivered ANZ a major blow over its corporate governance with a strike against the bank's remuneration report and sizeable hits to executive remuneration.



With protest threats and the risk of a remuneration strike at its AGM, ANZ's difficult year is far from over.


Merchant payments are a low-margin, capital-intensive game. ANZ sold its stake to Worldline for efficiency — but now it’s looking at buying it back.



Incoming ANZ chief executive Nuno Matos isn't the only winner from Shayne Elliott's departure. CBA is now the only Big Four bank not to change CEOs this year — and investors have taken notice.


External CEO appointments typically reflect a board wanting change. ANZ chair says that's not the case with Shayne Elliott's replacement, Nuno Matos.

















Australia's high bank share prices have much to do with consistency and safe haven status. Westpac's very predictable decision to appoint Anthony Miller as its new CEO won't damage that reputation.



APRA is hiking ANZ’s capital penalty by 50% over its bond scandal, but even more damning is the regulator's frustration with the bank's slow pace on risk management and cultural issues.







The major banks make consistent profits and pay solid dividends, but they seem unjustifiably expensive. Competitors are looming and winning share but their share prices are not for the faint-hearted.




The millionaire factory's trading update showed it will keep the pressure on margins, with the focus now shifting to Commonwealth Bank and Bendigo Bank results — and the ongoing strength of bank shares.


As the bad news keeps piling up for ANZ, investors are watching closely to see if CEO Shayne Elliott can prevent the bank's reputation from collapsing.


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