ANZ Group (ANZ) AGM 2024 summary

Opening remarks and agenda

• The AGM was held in-person in Melbourne, with online broadcast and Q&A, and included an Acknowledgment of Country and administrative instructions for voting and questions.

• The Chairman formally opened the meeting, confirmed a quorum, and outlined the agenda, including director elections, remuneration, and shareholder proposals.

• Chairman Paul O'Sullivan and CEO Shayne Elliott led the meeting, highlighting a pivotal year for the bank.

Financial performance review

• Achieved one of the strongest trading performances, with the second highest revenue and cash profit since 2017.

• Revenue increased from $18,547m to $20,905m over the past fiscal year.

• Total shareholder return was 27% for the year and 50% over two years; a total dividend of AUD 0.166 per share, nearly AUD 5 billion, the fourth highest in history.

• Dividend per share rose from 142 to 166 cents, excluding an additional 13 cent dividend.

• Institutional bank delivered record results, with return on equity in the mid-teens, nearly double five years ago.

Strategic initiatives and plans

• Suncorp Bank acquisition expanded scale in Australia Retail & Commercial, increasing customers and staff by 17% and 20% respectively.

• Customer deposits and net loans grew significantly post-acquisition, with deposits up 19% and loans up 18%.

• ANZ Plus digital platform enhanced customer engagement, with deposits rising from $9b to $16b and customers from 462k to 848k over the year.

• Continued investment in technology platforms (ANZ Plus and Transactive Global), with AUD 2.5 billion invested over five years.

• Ongoing cost savings and simplification, with over 30 businesses sold since 2016, releasing AUD 14 billion in capital.