ANZ finds itself battling on a range of fronts, from the aggressive pricing of its home loans to the performance of its ANZ Plus platform. It stares down its critics.
ANZ boss Shayne Elliott often tells his colleagues that he’s closer to the end of his term than the beginning, but that he doesn’t have plans for a change any time soon.
But the ANZ camp has a decidedly different interpretation. They point out that the law is very unclear, and that many in the investment community are querying how the underwriting process can work if the market has to be told whenever there is a shortfall.Advertisement to buy Suncorp’s bank, arguing that it could “further entrench an oligopoly” and reduce competition in home lending and business banking in Queensland.
In addition, they point out that rival bankers can’t calculate what return on equity ANZ is earning on home lending because that figure is heavily influenced by operational costs. Customers are also highly engaged with the ANZ Plus platform, which enjoys an enviable net promoter score well into the 50s.
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