Good morning, ladies and gentlemen.
The ANZ 2024 Annual General Meeting took place today in Melbourne, where the Chief Executive Officer acknowledged the Wurundjeri people as the Traditional Custodians of the land. The CEO expressed respect for Aboriginal and Torres Strait Islander people present at the meeting.
During his address, he referred to a recent earthquake in Vanuatu, noting ANZ's historical ties to the region since 1971. "We are grateful no-one in our team was hurt, and our thoughts are with those in the wider community who have sadly lost loved ones or were injured," he said. To assist affected individuals, ANZ has initiated a customer support package and will make donations to registered charities.
Reflecting on his tenure as CEO since 2016, he announced his plan to step down next July. He highlighted achievements such as simplifying the bank by selling over 30 businesses and strengthening its balance sheet with a capital ratio increase from 9.6% at the end of FY16 to 12.2%. "We strengthened our balance sheet...and we derisked our bank markedly," he noted.
The CEO discussed key achievements for 2024, including completing the purchase of Suncorp Bank and delivering record results through ANZ Transactive. "The bank we bought is performing even better than when announced two years ago," he remarked about Suncorp Bank.
He also emphasized the growth of ANZ Plus, which now serves nearly one million customers with industry-leading engagement levels. In terms of financial performance, ANZ achieved its second-highest revenue ever, bolstered by an 11% increase in customer deposits year-on-year.
Looking ahead to 2025, priorities include maintaining an engaged culture focused on customer outcomes, driving value from acquisitions like Suncorp Bank, enhancing ANZ Plus's success, delivering strong financials, and remaining productivity-focused.
Before concluding his speech, he reflected on ANZ's history dating back to its origins in Tasmania in 1828. He expressed pride in leaving the bank stronger and more capable for future leadership under Nuno Matos.
The CEO concluded by expressing well wishes for his successor: "My successor, Nuno Matos...has a tremendous responsibility and opportunity as he leads ANZ into its third century."