Our strategy is focused on becoming simpler, better balanced, and more service-oriented to help people and businesses respond to a changing world.

Customer Experience
Create a simpler, better capitalised, better balanced and more agile bank

FY17 Progress

Simpler bank:
  • Continued to reshape and simplify the organisation, reducing full-time equivalent staff by 4%, including 6% reduction in senior management.
  • Reduced total costs in absolute terms, down year on year for the first time since 1999.
Better capitalised:
  • Increased Common Equity Tier 1 capital by 96 basis points to 10.6%.
  • Generated 229 basis points of organic capital, primarily driven by earnings growth and reduction in the Group’s Risk Weighted Assets (RWA).
Better balanced:
  • Further rebalanced the portfolio, with capital allocated to Retail and Commercial in Australia and New Zealand increasing by 9% to 53% since 2015.
  • Improved risk adjusted returns in Institutional, through a combination of $18 billion reduction in credit RWA and improvement in earnings composition of markets, transaction banking and lending.
  • Progressed the sale of non-core businesses and minority investments, expected to deliver an estimated 80 basis points of capital once complete.

FY18 Priorities

  • Complete transactions in train and further progress the sale of non-core businesses and minority investments.
  • Continue repositioning the Institutional business, targeting further RWA reductions and improved returns.
  • Deliver a step-change in our cost structure.
  • Run the bank prudently, balancing growth, return and risk.

Customer Experience
Focus our efforts on areas where we can carve out a winning position

FY17 Progress

  • Established banking relationships with ~250,000 net new retail customers in Australia and New Zealand.
  • In Australia, we strengthened our number 3 home loan market share position, introduced First Home Buyer coaches, and for the first time home loan accounts exceeded 1 million.
  • In New Zealand, we maintained our number 1 market share position in home loans, held a leading position in overall brand consideration1 (at 51%) and increased our Retail Net Promotor Score2.
  • Grew small business deposits by 9% in Australia and commercial deposits by 6% in New Zealand.

FY18 Priorities

  • Maintain momentum in our home loan and small business franchises to deliver consistent, above-system growth in a cautious and responsible way.
  • Build Home Owner and Small Business Ecosystems to engage customers and improve the customer proposition and drive new revenue streams.
  • Build our Institutional’s regional trade, cash management and markets platforms.
  • Build a platform that makes payments easier, cheaper and more integrated for individuals and organisations.

Customer ExperienceFairness and Ethical ConductResponsible Business Lending
Drive a purpose and values-led transformation of the Bank

FY17 Progress

  • Established CEO-led Responsible Business Committee and revised Charter of Environment, Sustainability and Governance Board Committee to advance ANZ’s purpose and increase focus on ESG issues.
  • Contributed $131 million in community investment supported by 113,127 community volunteering hours by employees.
  • Engaged our people and continued to build positive advocacy for ANZ and the industry through ‘The ANZ Way’, focusing on ANZ’s purpose, strategy, refreshed values and Code of Conduct.
  • Introduced a new ‘balanced scorecard’ incentive plan in our branches and retail banking contact centres, increasing the weighting to good customer outcomes, and established a new role of Customer Fairness Advisor.
  • Implemented key priorities of our revised Human Rights Standards, including strengthened customer due diligence and employee training.

FY18 Priorities

  • Act boldly and aligned with our purpose to re-engage with the community, regain trust and differentiate ANZ.
  • Embed our values and 'New Ways of Leading' with all leaders across the bank.
  • Continue to change the way we communicate internally to create a more transparent, open culture.

Customer ExperienceDigital InnovationFraud and Data Security
Build a superior everyday experience for customers and our people to compete in the digital age

FY17 Progress

  • The only Australian major bank to offer payment options across Apple PayTM, Apple Watch Pay, Android PayTM, Samsung Pay and FitBitTM Pay — backed by the ability to make high-value transactions easier with the introduction of voice biometrics.
  • Expanded accessibility features for ANZ Visa Debit cards including features to assist customers with visual impairment and reading difficulties.
  • Acquired online property site RealAs to bolster our digital offering in Australia’s property market.
  • Added to small business product offerings through our Employment Hero partnership while adding payments capability with BladePayTM and FastPay® Next Generation.

FY18 Priorities

  • Simplify and standardise our technology landscape in support of our ambitions.
  • Introduce 'New Ways of Working', to more rapidly deliver valuable new features and services to our customers, engage our people and attract new talent.
  • Build the skills required to develop compelling customer propositions, unlock the value of data and optimise our core processes.
  • Better utilise data to strengthen relationships, grow revenue and improve risk management.
Case Study Photograph - Simon Giddings at ANZ

Building a Culture of Respect

Case Study

Simon Giddings, pictured, a Customer Service Consultant in our Melbourne Contact Centre, is completely blind. He performs his role with the assistance of screen reading software and a braille display. As a customer is talking to him in one ear, a synthetic voice simultaneously reads him the content off his computer screen, enabling him to deal successfully with a wide range of customer enquiries.

"Before I was employed by ANZ, I was not at all confident that I would be able to provide a secure future for my family. Not only am I now confident that I can do so, but I would say ANZ and its staff have shown me the utmost respect and total support. That is why I try hard to do the same for our staff and our customers."

Our Corporate Sustainability Framework

Our Corporate Sustainability Framework supports our business strategy, reflects our most material issues and is aligned with the bank’s purpose. The Framework has three key areas of focus:

Sustainable growth: create opportunities for all of our customers and enable sustainable growth for individuals, businesses and industry.

Social and economic participation: build strong customer relationships and connect with our communities, supporting a diverse and inclusive society in which everyone can participate.

Fair and responsible banking: earn trust by keeping pace with the changing expectations of our stakeholders, maintaining high standards of conduct and understanding the social and environmental impacts of our lending decisions.

ANZ is committed to the United Nations’ Sustainable Development Goals (SDGs) and our Framework, together with public targets that we set annually, supports the achievement of the SDGs.

This year we achieved or made good progress against 83% of our targets. We fell short of achieving our targets in relation to women in management, employee engagement, employee volunteering and the roll-out of our ANZ goMoney mobile phone banking app in the Pacific.

Financial wellbeing — creating opportunities for social and economic participation

One of the most significant ways in which we contribute to the communities in which we operate is through our long-term investment in financial education programs, assisting people on lower-incomes and with low levels of financial literacy to build their money management skills and savings.

Lifting levels of financial literacy and inclusion has been shown to result in greater economic participation and social benefits for individuals and the community. It has also brought a range of significant benefits to our business. Customers with higher levels of financial literacy and capability are generally more financially included, tend to hold more financial products and make more informed financial decisions. Our employees can also benefit from increased financial capability, leading to greater individual wellbeing and, importantly, a greater ability to respond to the diverse financial needs of our customers.

Case Study Photograph - Jamie and her kids

Jamie's Story

Case Study

This year, more than 4,000 people in Australia have benefited from Saver Plus, our financial education and matched savings program for lower-income earners. Jamie, pictured, with her three children, completed the program in January. She heard about Saver Plus through the school newsletter and decided to join because it provided the opportunity to receive up to $500 in matched savings towards her children's education costs. "Before Saver Plus, I'd transfer money from one store card to another and nothing would be reducing," Jamie said. "Saver Plus helped me get in control of my debts and taught me how to actively save for future expenses. I now have a budget on a spreadsheet, I know when my credit card cycle is and can better manage my money." Participants make regular deposits towards a savings goal over a 10-month period and attend workshops to build their financial management skills. To learn more visit anz.com/saverplus.

"Saver Plus is an amazing program that has relieved a lot of pressure".

In 2016 we joined a group of 12 ‘trailblazer’ organisations as the first to release a Financial Inclusion Action Plan (FIAP). The program, managed by Good Shepherd Microfinance and supported by the Australian Government, stems from Australia’s commitment to the G20 goal of alleviating poverty through financial inclusion.

Modelling estimates that over the next 10 years, the FIAP program will play a role in enabling large numbers of Australians to progress away from financial crisis and hardship.3 This collective action (there are now 30 organisations committed to a FIAP) has the potential to contribute to a GDP uplift of $2.9 billion, government savings of $583 million and increased household wealth of $11.8 billion per annum.

We are also committed to providing employment opportunities for disadvantaged and under-represented groups to support social inclusion and financial wellbeing. This year we employed 250 people from under-represented groups, including people with a disability, Aboriginal and Torres Strait Islanders and refugees.

Our sustainability performance has been recognised on a number of sustainability indices, including the Dow Jones Sustainability Index, FTSE4Good and CDP (formerly the Carbon Disclosure Project).

Further detail on ANZ’s approach to sustainability and performance against 2017 targets, is contained in our 2017 ANZ Corporate Sustainability Review (independently assured by KPMG), available at anz.com/cs in December 2017.


— Kathy Grant
Kathy Grant and Justin Davenport, Lux Design Group — clothing designers, wholesalers, importers and manufacturers.

  • 1. Source: McCulley Research Brand Tracking (online survey, first choice or seriously considered); six month rolling average.
  • 2. Retail Market Monitor, Camorra Research, Sep'16 & Sep'17 (monthly).
  • 3. SPP (2016). Economic Modelling for FIAP Program Implementation Team, November 2016
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