We seek to anticipate and respond to the risks and opportunities arising in our external environment to ensure that we can continue to create value for our stakeholders. A summary of the issues influencing our strategy is outlined below.
These global trends present us with risks and opportunities
Risks
Opportunities
Low credit growth environment
Increasing competition and regulatory requirements places pressure on margins and customer volumes.
New approaches are needed to deliver products and services pressure on margins and customer volumes. to our customers, together with efficient allocation of capital and resources to generate returns to shareholders..
INCREASED REGULATORY OVERSIGHT AND STAKEHOLDER SCRUTINY
Trust in the Australian (and New Zealand) banking industry has eroded over the past two years.
Increased regulatory expectations and focus places pressure on margins and customer volumes.
Community concerns remain high following the Royal Commission in Australia and a number of regulatory developments in New Zealand. We can help by transparently working with and partnering with government, regulators and NGOs to deliver improved customer outcomes.
DIGITAL ADVANCEMENT AND TECHNOLOGICAL CHANGE
Competition from existing and new competitors is increasing, supported by Government policy, such as the proposed consumer data right.
With the increase in digitisation, strong cyber security capability is critical.
By improving our digital capabilities and investing in cyber security, we can serve our customers in new and innovative ways, meeting their needs for safe and secure digital banking solutions.
DEMOGRAPHIC CHANGES
Demand for home lending in Australia and New Zealand is impacted by a range of supply and demand factors largely outside of our control, including population growth, housing prices and dwelling construction.
Community concerns about housing affordability remain high. We can help by partnering with business, government and NGOs to deliver innovative and practical housing solutions.
ENVIRONMENT AND CLIMATE
We will continue to experience negative reputational impacts if we fail to raise standards across all our activities and take customer and societal impacts into consideration when making business decisions.
By continuing to focus on improving customer outcomes and strengthening our standards on issues such as environmental sustainability and human rights, we have an opportunity to differentiate ourselves from our peers.
GLOBALISATION
Community concerns about aspects of trade and investment can potentially limit opportunities.
With increasing globalisation and the rise of Asia, we can support our customers to increase their cross-border trade and investment.
Increased trade and investment leads to higher incomes and employment for the communities in which ANZ operates
Our strategic imperatives assist us to respond positively to this environment and meet societal expectations
Helping customers to get on top of credit card debtHow We Create Value