A snapshot of the year that’s been

As our CEO Shayne Elliott says, ANZ’s long-term viability is 

" dependent on us making decisions that are mindful of the impact we have on the community, our shareholders, our customers and our people.” 

Our 2018 Annual Review tells a broad but concise story about how we are creating value for our shareholders, employees, customers and the wider community. It is the second year we have drawn on aspects of the International Integrated Reporting Framework, after signalling our intent last year to move towards integrated reporting.

Scrutiny

In drafting the review we were conscious it of its release at a time of unprecedented scrutiny of our industry, particularly in Australia where the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has highlighted misconduct and conduct falling below community standards and expectations.

We have sought to ensure our disclosures are transparent and balanced - discussing the challenges we face, what we have got wrong and what we are doing to fix it, as well as the positive contributions we have made during the year.

Communicating transparently and openly with our stakeholders is critical to rebuilding the community’s confidence in us and rebuilding our reputation as a fair and responsible business, driving sustainable returns for all stakeholders.

Throughout the review there are case studies featuring our customers – customers we have supported to grow their business, improve their financial wellbeing and succeed in a digital world. 

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In addition to featuring a number of case studies, ANZ’s annual review describes:

• how we engage with our stakeholders – the issues they have raised and how we are responding;
• the challenges and opportunities in our external environment, including digital advancement, globalisation and lower credit growth;
• our performance against our 2018 sustainability targets, covering financial wellbeing, environmental sustainability and fair and responsible banking;
• the issues our board has been focussed on, such as the purpose and values-led transformation of the bank, improving customer outcomes, financial and regulatory issues; and
• our approach to climate change, using the recommendations of the Financial Stability Board’s Taskforce on Climate-related Financial Disclosures.

In future reports we will seek to achieve a closer alignment with the requirements of the framework, particularly with respect to the connectivity between our strategy, performance metrics and remuneration outcomes.

Anna Stewart is a bluenotes contributor