ANZ Bank’s profit margins have taken a hit from the fierce competition in mortgage lending, as the bank tries to stem losses in home loan market share following last year’s blowout in processing times.
Although ANZ did not publish a profit figure, the update was weaker than expected by brokers, and some analysts said the market was likely to downgrade its estimates for ANZ’s half-year profits. Citi analyst Brendan Sproules estimated the bank’s cash earnings were about $1.55 billion in the quarter, and that earnings were being supported by lower bad debt charges.Chief executive Shayne Elliott was last year
Maybe ANZ_AU will also be able to update their systems in being able to notify its customers of incoming & outgoing transactions on their phone via the app? I mean, still a while to go I guess as CBA has been doing that for years already ANZ
Let me get this straight, a bunch of bankers WFH couldn't figure out that their systems were out of date so they lost millions. But, but, wfh is so productive! 😂😂
Well well well we can now operate at the speed of our competitors. Who is being sacked for incompetence in allowing the bank to get so far behind? (And sacked without a big payout!) Answer: No one! It’s a creeping assumption… no one fault. Jesus wept .
Not surprised, we left them last year because of their terrible service
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Source: FinancialReview - 🏆 2. / 90 Read more »