Investor Presentaiton
CASE STUDY - GOVERNANCE
5 MATERIALITY REVIEW • A FOCUS ON FAIR AND RESPONSIBLE BANKING
INTERVIEWS WITH EXTERNAL STAKEHOLDERS TO INFORM & HELP GUIDE OUR WORK IN RESPONSE TO THE ROYAL COMMISSION
Context:
Interviews were held with external stakeholders including institutional investors, retail shareholders, consumer advocates, financial
counsellors and analysts
Findings and challenges
1. Long-term performance
Surprise at the extent of illegal and
unethical behaviour across the
banking sector
Strong belief amongst interviewees
across all cohorts that unethical (not
just illegal) behaviour will erode
shareholder value
Expectation that, Boards focus on
long-term value creation not short-
term profit maximisation
Outcome:
2. Current actions are good and necessary
but not sufficient
•
Transparent reporting sought on progress
towards the spirit and findings of the
Royal Commission
Expectation for Board and management
to demonstrate, customer-centric actions
in line with the 'spirit' of the Royal
Commission's findings
3. Broader role for Board in
overseeing conduct and culture
.
Appetite for more visible role for
Board in setting and governing
culture and conduct
Expectation that real and lasting
change happens as a result of the
Royal Commission
Findings have been presented to Board, the Ethics and Responsible Business Committee and the Royal Commission and APRA Self-
Assessment Oversight Group and will inform our continuing work on improving customer outcomes.
Relevant ESG target:
Group scorecard, rebuild reputation.
ANZ
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