Company: Australia and New Zealand Banking Group Limited
Brand value: US$10,946 million
Change since 2018: -8%
Headquarter city: Melbourne
Year formed: 1835
ANZ is one of the biggest consumer banks in Australia, the largest bank in New Zealand and has operations in 34 countries around the region. Like the other “Big Four” banks, ANZ came in for harsh criticism at the Royal Commission into the financial services sector. CEO Shayne Elliot accepted that the bank had focused excessively on achieving its financial goals, at the expense of its customers and prudent risk management. In a gesture of contrition, Elliot made his email address public, so that customers could contact him directly. Since then, ANZ has announced 16 initiatives aimed at improving the way it treats customers, particularly small businesses and farmers. It has also set out plans to focus on the digital transformation of banking. In early 2019, ANZ became the first bank to allow customers to take out cash with their iPhone using Apple Pay. Failure to reach agreement with Australia Post on its Bank@Post service has, however, hit customers in remote areas who do not have access to a branch.