ANZ unveils 2030 strategy, halts $800m share buy-back

ANZ Group Holdings Limited has released its ANZ 2030 strategy, aiming to put customers first and deliver simplicity, resilience, and value, with a focus on four strategic pillars: Customer First, Simplicity, Resilience, and Delivering Value. Key immediate priorities include embedding the new leadership team, integrating Suncorp Bank faster by June 2027, accelerating ANZ Plus digital front-end delivery for all retail and small business customers by September 2027, reducing duplication, and enhancing non-financial risk management. The bank anticipates a reduction of 3,500 roles by September 2026, plus 1,000 managed services contractors. It is also stopping projects and exiting non-bank activities that do not align with the strategy.

In conjunction with the strategy, ANZ announced capital management actions. It will cease the remaining ~$800 million of its share buy-back, allowing the return of surplus capital of ~$1 billion from its Non-Operating Holding Company to the Bank. Additionally, the bank expects to apply a 1.5% discount on the next two Dividend Reinvestment Plans, which are not expected to be neutralised.

This final buy-back notification confirms that ANZ has bought back 39,465,384 securities for a total consideration of AUD 1,174,816,106.36. The highest price paid was AUD 31.92 on September 20, 2024, and the lowest price paid was AUD 27.24 on August 7, 2024. The bank has now ceased the remaining share buy-back.