Category: ANZ

Source: ANZ statements

ANZBGL

Rating	To	From
Tier 2	A-	BBB+
Additional Tier 1	BBB	BBB-

ANZ NZ

Rating	To	From
Tier 2	A	A-
Additional Tier 1	BBB+	BBB

S&P has reaffirmed ANZBGL’s and ANZ NZ’s ‘Stable’ outlook.

The upgrade resulted from a one-notch increase in ANZBGL’s stand-alone credit profile (SACP) to ‘a+’ from ‘a’. The improvement in ANZBGL’s SACP does not result in a change to ANZBGL’s and ANZ NZ’s issuer credit rating and senior unsecured debt ratings of AA-.

Announcing the upgrade, S&P said that “The rating actions reflect continued strengthening of institutional and governance standards in the Australian banking sector that have reduced industrywide risks. Simplified business models and advances in risk management have also contributed to this improvement.”

For further information on these rating actions, refer to S&P’s media release dated 2 April 2024.

Approved for distribution by ANZ Group’s Continuous Disclosure Committee

Source: ANZ statements

•Consumer confidence was largely unchanged last week with a 0.3pts fall to 82.8pts. The four-week moving average rose 0.5pts to 82.5pts.

•‘Weekly inflation expectations’ rose 0.1ppt to a six-week high of 5.2%, while the four-week moving average was also up 0.1ppt to5.0%.

•‘Current financial conditions’ softened 0.8pts and ‘future financial conditions’ declined 1.9pts.

•‘Short term economic confidence’ (about the economic outlook over the next 12 months) gained 1.9pts. ‘Medium term economic confidence’ (about the economic outlook over the next five years) fell 0.4pts.

•The ‘time to buy a major household item’ subindex moderated by 0.1pts.

Source: ANZ statements

ANZ Economist, Madeline Dunk said: “The pace of declines in ANZ-Indeed Job Ads has eased. In fact, there was no change in the average number of Job Ads in Q1 2024 compared to Q4 2023. Similarly, the average unemployment rate in the first two months of Q1 is currently unchanged from Q4’s 3.9% result. While we expect to see a further moderation in Job Ads, the recent stickiness in the series implies it is unlikely to be a linear path downward and suggests we will only see a gradual rise in unemployment. Indeed, while ABS job vacancies fell 6.1% q/q in February and 23.5% since the May 2022 peak, there hasn’t been a corresponding increase in the unemployment rate.”

Indeed Senior Economist, Callam Pickering said: “In March, the decline in ANZ-Indeed Job Ads was driven by New South Wales and Western Australia. Job Ads in New South Wales have fallen in 10 of the past 12 months, more than any other state. Tech hiring remained subdued in March, with Job Ads for software development, IT operations and information design falling once again. Job Ads for these tech sectors are down by between 31% and 39% over the past year. In March, Job Ads fell in 60% of occupations, above the 38% monthly average in 2024 so far, but well below the near universal declines towards the end of last year.”

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Source: ANZ statements

Last year, ANZ’s people and systems prevented more than $106 million in losses to cyber criminals, a 38 per cent increase from the previous year. The bank also recorded a 43 per cent reduction in customer losses in the last quarter of FY23.

The reduction in customer losses is in line with findings from the Australian Government’s latest National Anti-Scam Centre update, which reported a 26 per cent reduction in scam losses from July to September 2023, down 43 per cent from the same quarter in 2022.

ANZ Head of Customer Protection, Shaq Johnson, said: “Cyber events, data breaches, scams, and fraud activity continue to be a challenge to the community in 2023, however we’re seeing results from our response. ANZ continues to take action, introducing additional measures to protect our customers and the community from sophisticated criminal networks.”

“This year, we expect to see a shift in the way scammers operate, from targeting card transactions over digital fast payments, to increasingly targeting peer-to-peer and other emerging payment channels to circumvent traditional payment controls.”

In 2024, ANZ will implement measures to:

• Increase personalised warning messages to inform customers when a transaction or activity is considered high risk;
• Introduce a new Scam Scoring model, using AI to complement ANZ’s current security systems and boost our scam detection;
• Expand the ways customers can reach ANZ to report scams and seek assistance, including a new dedicated team of specialists and a dedicated hotline;
• Add new algorithms to our Mule Detection capability to further restrict the movement of scam proceeds to organised crime; and,
• Deliver new personalised education resources for customers.

“ANZ customers are not immune to the threat of scams, so we encourage them to take steps to protect themselves by remaining vigilant and suspicious of any unsolicited contact or requests for funds from unknown individuals,” Mr Johnson said.

ANZ continues to work closely with other banks, industries and government to collectively and effectively identify and address scam trends, stay ahead of scammers, and continue to protect Australians from emerging threats.

ANZ’s customer protection teams and systems operate 24/7. Customers who believe they may have been a victim of a scam should contact us immediately, on 13 33 50 or visit us at http://www.anz.com.au/security/report-fraud/ for more information.

For more information on the types of scams and how to protect yourself visit http://www.anz.com.au/security/types-of-scams.

Source: ANZ statements

Now in its fifth year, the event, held in partnership with ANZ and the Women’s and Childrens Hospital Foundation, has raised more than $1.45m since its inaugural year in 2019 for South Australian charities.

ANZ Chief Risk Officer Kevin Corbally said: “I’m really proud that ANZ’s South Australian team are so passionate about delivering this important event – which at its core is about helping and supporting the local South Australian community.”

“In addition to raising funds for a worthy cause, the South Australian Community Ball is a great opportunity to catch-up with our South Australian community partners and customers.”

 

This year’s event held special significance for many in attendance, celebrating the memory of the late Jane Yuile. Ms Yuile was a titan of the South Australian business community, ANZ’s South Australian state chair and was instrumental in organising the event in previous years.

 

ANZ State General Manager, SMEs, and Community Ball Committee Chair Adele Fiene said: “Jane was a truly spectacular lady and was integral in getting so many people to attend the night and support our wonderful community partners and charities.”

Held at Adelaide Oval, the event showcased South Australian farmers, chefs and winemakers, to over 500 attendees.

After a strong night of fundraising – including two auctions and a car raffle provided by Peter Kittle Toyota – attendees finished the evening with entertainment from South Australian Cabaret David Campbell OAM and his band.

Source: ANZ statements

• Consumer confidence rose 1.4pts last week to 83.1pts. The four-week moving average was stable at 82.0pts.

• ‘Weekly inflation expectations’ rose 0.3ppt to 5.1 per cent, while the four-week moving average was steady at 4.9 per cent.

• The financial conditions subindices improved. ‘Current financial conditions’ and ‘Future financial conditions’ both rose by 3.2pts.

• ‘Short term economic confidence’ (about the economic outlook over the next 12 months) declined 1.1pts. ‘Medium term economic confidence’ (about the economic outlook over the next five years) rose 2.1pts.

• The ‘time to buy a major household item’ subindex moderated a touch.

Source: ANZ statements

The class action related to certain interest charged on certain ANZ personal credit cards in the period from 1 July 2010 to 1 January 2019.

ANZ will pay $57.5m in the settlement, which is covered by a provision held at 30 September 2023. The settlement is without admission of liability and remains subject to court approval.

Approved for distribution by ANZ’s Continuous Disclosure Committee

Source: ANZ statements

The portfolio comprises eight wind, solar and battery storage assets across five states in Australia, which total 1.5 gigawatts (GW) of generation capacity.

The assets will include the Collie Battery Stage 1 (219 MW / 877 MWh) which is currently under construction in the south west region of Western Australia (WA). As Neoen’s first major project in WA and the company’s first four-hour long duration battery globally, the asset will provide grid-scale services locally, storing high density, low-cost renewable energy.

ANZ continues to play a key role in supporting the clean energy transition in alignment with its ESG goals. The transaction aligns with ANZ’s strategy of funding and facilitating at least AU$100billion in environmental and social outcomes by 2030.

ANZ Global Head of Project and Export Finance, Aaron Ross said: “This transaction is one of the largest renewable-energy financings in Australia and provides the capital to support Neoen’s goal of building a future powered by clean energy. Investments in wind farms, solar projects and battery storage are collectively key to helping lower carbon emissions in Australia, and will also bolster grid stability and the reliability of energy for Western Australian residents and businesses.”

Collie Battery, together with other wind and solar assets under development, will contribute to Australia’s 82% renewables penetration by 2030. The project’s construction is on track for completion in Q4 2024.

This is the second Australian transaction ANZ has supported Neoen in, the first being for its 209 MW Goyder South Stage 1 Wind Farm in South Australia.

About Neoen

Neoen develops, builds and operates wind, solar and energy storage projects with a total capacity in operation and under construction of 7GW across 17 countries. It’s the largest renewable energy company in Australia, with 3.75GW of assets currently under construction or in operation.

 

Source: ANZ statements

Consumer confidence was broadly unchanged last week, falling just 0.5pts. The four-week moving average declined 0.3pts.

‘Weekly inflation expectations’ fell 0.1ppt to4.8%, and the four-week moving average dipped to 4.9%.

The financial conditions subindices declined. ‘Current financial conditions’ fell by 0.6pts and ‘Future financial conditions’ dropped 3.8pts after rising 4.4pts the week before.

‘Short term economic confidence’ (about the economic outlook over the next 12 months) was mostly stable. ‘Medium term economic confidence’ (about the economic outlook over the next five years) rose 0.9pts.

The ‘time to buy a major household item’ subindex gained 0.8pts.

Source: ANZ statements

Consumer confidence rose 1.2pts last week. The four-week moving average declined 0.1pts.

‘Weekly inflation expectations’ was unchanged at 4.9%, and the four-week moving average was unchanged at 5.0%.

‘Current financial conditions’ rose 3.1pts. ‘Future financial conditions’ jumped 4.4pts rising above the neutral 100 level to its highest since January 2023.

‘Short term economic confidence’ (about the economic outlook over the next 12 months) was practically unchanged with a 0.1pt increase.

‘Medium term economic confidence’ (about the economic outlook over the next five years) was down 1.4pts.

The ‘time to buy a major household item’ subindex softened 0.3pts.