As a bank with more than 6 million Australian customers, we need to make sure we balance the needs of both borrowers and depositors. This means providing competitive and affordable interest rates, innovative products and flexible options that give customers confidence and control over their finances.
As one of Australia’s top five listed companies, we also have a large and diverse shareholder base, including retirees and superannuation holders, who rely on ANZ to deliver a competitive return on their investments.
To do this on a consistent basis means we need to attract customers, win business, manage our costs and remain competitive in the market.
The market is highly competitive, which can be seen in the difference between the variable interest rates of banks. In addition to the major banks, there are over 100 other home loan providers in the market, offering a total of more than 500 home loan products.