ANZ profit dips 10% amid strategic overhaul, new CEO

ANZ reported a 10% decrease in statutory profit to $5,891 million in 2025, with cash profit falling 14% to $5,787 million, primarily due to significant non-financial risk remediation and restructuring. The year saw the appointment of Nuno Matos as chief executive, leading a refreshed ANZ 2030 strategy focused on customer-first, simplicity, resilience, and delivering value. Key initiatives included advancing the ANZ Plus digital front-end for Australian retail customers by September 2027 and fast-tracking Suncorp Bank integration by June 2027.

The bank continued to invest in ESG initiatives, funding over $84.72 bn towards its $100 bn social and environmental activities target by 2030, and $892.79 m towards its $10 bn social and affordable housing target. Progress was also made in fraud and scams prevention, recovering over $220 million in related funds. However, the bank recorded a 'first strike' on its Remuneration Report due to misaligned outcomes, leading to significant reductions in executive variable remuneration, including a 0% STVR for the chief executive and Australian-based Group Executives.

Governance changes included the discontinuation of the Board EESG Committee and management ERBC, replaced by a new Climate and Environment Committee. ANZ also entered a court enforceable undertaking with APRA due to non-financial risk management shortcomings and agreed to a $240 million ASIC penalty for regulatory investigations. These actions underscore the bank's commitment to strengthening risk management and fostering a culture of accountability.