ANZ has introduced its ANZ 2030 strategy, outlining its immediate priorities and strategic direction for the next five years. The announcement was made by Chief Executive Officer Nuno Matos, who emphasized the importance of focusing on customers and improving business performance.
“Today is an exciting day in the 197-year history of ANZ. Under these changes we will unlock our potential to win the preference of customers, shareholders and the community.
“ANZ has a strong, diversified business with two scale retail markets, two market-leading positions in Institutional and New Zealand and a global footprint across 29 markets.
“Under our new strategy, customers are at the centre of everything we do – whether it’s improving their experiences, offering them leading technologies and platforms, or keeping them safe.
“Our first focus is to get back to basics and deliver our immediate priorities, while our four strategic pillars will then accelerate our revenue growth and see all four divisions perform to their full potential.
“In a competitive banking environment, this must include a focus on delivering differentiated and superior propositions, raising the standard of every digital and human interaction in our channels, and avoiding disintermediation, while materially improving productivity levels,” Mr Matos said.
The ANZ 2030 strategy is structured around four main pillars: putting customers first by enhancing digital and human interactions; simplifying operations through organizational streamlining and asset divestment; building resilience with high standards in risk management; and delivering value by focusing on sustainable financial performance.
The bank’s immediate priorities include embedding its new leadership team, integrating Suncorp Bank more quickly to create value, rolling out the ANZ Plus digital platform to retail and small business clients, reducing duplication within the organization by discontinuing non-aligned initiatives, and strengthening non-financial risk management processes.
Mr Matos added: “Our Institutional and New Zealand businesses have performed strongly, but we see significant opportunities in our Australia Retail and Commercial divisions to improve our customers’ experiences and deliver growth.
“Our immediate priorities, combined with these areas of strategic focus, will drive opportunities across the bank, but particularly in these two key Australian divisions. Our Australia Retail division will be significantly simpler, with one team, one brand, one channel and one technology system, as we accelerate both the delivery of ANZ Plus front-end and integrating Suncorp Bank.
“Key to implementing our strategy will be our three key enablers: our culture, our people and our technology. Our people will deliver our strategy, and we must focus on a culture of customers, performance and talent, while also making sure we have the right – simplified – technology in place.
“Together with my leadership team we will deliver more for our customers, while driving better growth and returns. This is our time to deliver and execute our ANZ 2030 strategy,” Mr Matos concluded.
On capital management actions linked to executing these strategic pillars—such as restructuring charges already announced—the bank plans to stop its remaining share buy-back program worth about $800 million. This move aims to return roughly $1 billion from its Non-Operating Holding Company back into the bank. Additionally, ANZ expects to apply a 1.5% discount on its next two Dividend Reinvestment Plans (DRPs), which are not expected to be neutralised. The final dividend for 2025 is subject to board approval but is anticipated to remain unchanged from earlier in the year with franking rates maintained.
A detailed overview of the new strategy can be found at anz.com.au/newsroom.