ANZ CEO Shayne Elliott presented the bank's financial results, which, although below expectations, are seen as robust thanks to effective cost management and the strength of a diversified portfolio. As a result, ANZ has initiated an A$2 billion share buyback.

Elliott acknowledged the economic challenges of rising interest rates, but highlighted the resilience of customers, with a small percentage in financial difficulty. He highlighted ANZ's international strategy, particularly in the institutional sector in Asia Pacific, and said the bank was focusing on its core businesses, divesting from less core holdings, such as the sale of its stake in AmBank.

Faced with potentially high interest rates in the long term, Elliott plans to expand ANZ's payment processing services and adapt to changing customer needs, particularly in Asia where supply chains are redeploying.

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