Investors are assessing the financial implications of probes into ANZ’s markets division,amid allegations of misconduct by traders.
ANZ chief Shayne Elliott said the bank’s board is probing the alleged misconduct and would “ensure consequences will be applied to senior executives,both past and present,including myself,where appropriate”.
Six years after the royal commission,there are signs of a re-emergence of poor behaviour. At the very least this looks like conduct slippage.
ANZ boss Shayne Elliott has been grappling with several challenges at the bank. But one societal issue he has his eye on is taking a disproportionate toll on younger generations.
ANZ boss Shayne Elliott says allegations that the bank overstated the value of government bonds it traded by more than $50 billion will be treated with “utmost seriousness”.
Despite first identifying the issue in early 2022,ANZ took nearly two years to start its customer remediation program,the banking regulator said.
The transaction is the biggest banking deal in Australia since Westpac bought St George in 2008.
Banking giants have plans for artificial intelligence that go much further than the often clunky chatbots used to answer customer queries.
ANZ chief executive Shayne Elliott said there were “very real stresses” in the economy,but that much of it was outside the banking system.
Despite continued pressure on bank profit margins,analysts expect the big four to post relatively resilient earnings over the next two weeks.
Kroger is embroiled in a battle for control over the $52 million Mayfield Childcare fuelled in part by a contentious deal three years ago.