Thank you Paul and good morning.
I’d also like to acknowledge the Kaurna people as the Traditional Custodians of the land on which we are meeting and pay my respects to their elders past, present and emerging. I extend that respect to other Aboriginal and Torres Strait Islander people joining us today, either here in the room or online.
Ladies and gentlemen, it is pleasing to be back together to meet in person and it’s terrific being here in Adelaide. As the Chairman mentioned, we have a deep history and a strong presence supporting South Australian customers, the economy, and the community. A recent example of this is the ANZ Community ball held here in Adelaide which has quickly become one of the preeminent events on the social calendar. The ball was an initiative driven solely by our team, and they can be proud of the impact they have had with almost $1 million raised since 2018 for worthy local charities.
And as we have done for more than 180 years, we are backing our customers here in South Australia. Companies like Coopers, featured in the earlier video, who we have banked from the beginning, and which has gone on to become a significant Australian champion. Or Drakes Supermarkets, another long-term ANZ customer based here in South Australia who have invested and grown to become Australia’s largest independent grocery retailer.
Growing ANZ is a lot easier when you back those with a great vision generation after generation. I believe that strength and our long-term commitment to backing customers was a key reason we were recently appointed the sole provider of core-banking services for the South Australian Government. This was a very competitive tender, and we were honoured to have been selected.
Your team will be working really hard to make sure we improve on the banking services provided to the Government for the benefit of citizens, taxpayers, and all those driving the economy across South Australia.
While Paul outlined the headline results, I wanted to give some more detail on the key drivers of business in Financial Year 2022. First, this was one of the best sets of results we have delivered demonstrating benefits of a simpler well-balanced portfolio. The recent environment has been supportive however looking back on year achieved five clear priorities:
We restored momentum in Australian home loans We successfully launched ANZ Plus our new Australian Retail platform We drove disciplined growth Institutional Commercial division completed major regulatory programs committed continued simplification de-risking business four key businesses at Institutional New Zealand Australia Retail each made material contribution this year continues differentiator benefiting from multi-year transformation rising rates across globe create favourable conditions transition driven lending leader providing infrastructure governments funds financial institutions dramatic reasons successful winning contract
Turning New Zealand country oldest largest diversified high performing well-run addition familiar worth reminding shareholders sector fund manager overseeing $34 billion under management good prospects future growth familiar Reserve Bank asked banks implement largest regulatory programs implemented history Known BS11 after five years hard work largely completed investment means positioned focus build franchise
Closer home growth restored re-positioning retail onto exceptionally strong early signs effectively focused winning driving better shareholder improving wellbeing promising deposit positive ratings particularly those new fact deposits faster rate launched Today more than 113000 around third over $2 billion deposits perspective numbers doubled announced result October interested joining stand outside help sign take advantage great interest rate currently available savings balances With product taking off hit milestone month launch staff pilot digital home loan clear fancy frontend paper-based backend many market offer fully end-to-end experience application way settlement capability accept mobile device assessed approved settled without manual intervention testing introduce product Plus later initially refinance market
So parts performing time right attention next biggest opportunity small mid-sized Banking always core what strong trading sole traders tradespeople cafes restaurants like mid-sized manufacturing health service providers operators agricultural fast track separated segment creating stand-alone division backing largest investment technology capability ever made week announced Clare Morgan join executive lead experienced banker Commonwealth know terrific job leading working customers look forward introducing shareholders Another highlight commencement Worldline joint venture allow provide world-leading point-of-sale payment important paying goods mostly cashless myriad ways paid mainly revolving devices shops counters array online fair never pace change experiencing Essentially arms race payments feasible domestic operator bring solution deserve offered Apple 2016 looked back
While subject managing security increased risk associated cyber-crime scams threat environment dynamic rapidly changing impacting industries foremost protecting remains focus criminals opened branch methods changed old fashioned robberies sophisticated targeting jewels identity money days protected investing vaults guards today digital tools virtual Continued defences spent double remain alert ingesting data events Security Operations Centre monitoring detecting activity network repeat scan day mentioned impact increasing prevalence outside able provide additional tips protect yourself
This preparing milestone acquisition Suncorp comprehensive approval process believe stronger compete effectively Queensland offering outcomes platform invest grow fastest economies believe opportunities brand simple terrific goal capitalise strengths find ways add value employees overall recall National proved successful alike reason successful today managed integration still fact Board learnings guide seek replicate success transaction
Looking ahead world entered period uncertainty Central banks battling control inflation geopolitical notably Ukraine continues weigh heavily Closer factors play indicators weakening others support underlying health particular stress regard cost living resulting rise expectations drag consumer confidence emphasise pressures having community know doing tough positioned support entering period shape focus exposed less secure employment possibly bought homes peak cycle increases suffered shocks breakdown illness experience kept hardship resources built COVID uncertain both positioned come lessons COVID ability analyse stresses granular level proactively intervene example quickly identify approaching negative equity actively monitor help needed finish strong divisions risks entering prepared challenges achieved set achieve differentiated strategies roadmap continually improve infrastructure structure voting exciting development flexibility importantly needs confident strategy place build heritage culture finish thankingour wishing families happy festive season prosperous Thank much