ANZ Insto there for customers in H1
ANZ has continued to assist its institutional customers through the COVID-19 crisis, lifting core lending by 12 per cent in the six months to March 30, in another sign the bank is dedicated to helping when and where it matters most.
As part of its interim profit announcement, ANZ said its core lending increased by $A16 billion* during the period. The majority of that lending was extended in March, in support of customers in ANZ's priority sectors amid the pandemic.
CEO Shayne Elliott told ANZ bluenotes on the morning of the announcement the bank’s core business, capital and liquidity levels were strong.
“That really should give a lot of optimism and confidence about our ability to stand up and do the right thing by our customers, but also the broader economy,” he said.
ANZ Institutional maintained its high customer service standards throughout the crisis, despite a 35 to 45 per cent increase in transaction volumes of trade and lending processes, it said.
This came despite 100 per cent of the institutional arm’s staff in operations hubs and 85 per cent of global operations teams working from home.
ANZ Institutional achieved a number of key milestones throughout the year, including acting as joint lead manager on a record $13 billion Treasury bond for the Australian Office of Financial Management (AOFM), helping fund the government’s COVID-19 support package.
Additionally, the bank struck an agreement during the half with the Australian Football League to provide much-needed funding to the sporting body amid the ongoing pandemic.
In early March, ANZ was named the number-one bank in Asia in terms of overall relationship quality for the third-consecutive year by Greenwich Associates.
*Excludes Markets. Dollar movements and growth rates compared to the half year ended September 30 2019 on an FX adjusted basis.
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