ANZ Group Holdings (ANZ) investor relations material

Strategic context and market overview

• Banking in Australia and New Zealand is highly competitive, with banks central to credit provision and industry returns on equity remaining strong compared to global peers.

• The market is increasingly commoditised, with a high reliance on net interest income and a growing role for mortgage brokers, who now write 74% of new mortgages.

• Australia offers growth opportunities due to a large, growing population, stable economy, and strong governance, with bank asset quality and credit ratings outperforming global peers.

Strategic pillars and priorities to 2030

• The strategy is built on four pillars: Customer First, Simplicity, Resilience, and Delivering Value, enabled by people, culture, and technology.

• Emphasis on differentiated propositions, digital and human interaction standards, and productivity improvements.

• Two-phase approach: FY26–27 focuses on productivity and foundational improvements; post-FY27 aims to accelerate growth and outperform the market.

• Immediate priorities include embedding new leadership and culture, integrating Suncorp Bank, accelerating ANZ Plus digital rollout, reducing duplication, and enhancing non-financial risk management.

• Culture, people, and technology identified as key enablers for strategy execution.

Execution and operational initiatives

• Leadership team refreshed with a blend of local and global talent, emphasizing a performance-driven, customer-focused culture.

• Suncorp Bank integration targets full migration by June 2027, with $500m annual pre-tax cost synergies expected by FY29.

• ANZ Plus digital front-end to upgrade 8 million retail customers by September 2027, consolidating technology platforms for efficiency.

• Productivity program targets $800m gross cost savings in FY26, including role reductions and exiting non-core businesses.

• Plan to reduce 3,500 roles and 1,000 contractors by September 2026 to improve productivity.