ANZ (ANZ) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional owners and administrative details for voting and questions, including in-person and online participation.

• Chairman welcomed shareholders, confirmed quorum, and outlined the agenda, including voting on resolutions and Q&A.

• 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 total shareholder return of 27% and a 50% return over two years.

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

• Total dividend for the year was AUD 0.166 per share, nearly AUD 5 billion returned to shareholders, the fourth highest in history.

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

• Revenue was the second highest in history, and cash profit was the second highest since 2017.

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.

• FY25 priorities include driving value from Suncorp Bank, improving productivity, and making ANZ Plus more successful.