The bottomless pit of bank remediation

Friday, 1 November 2019

ANZ chief executive Shayne Elliott was unable to say when the bank’s remediation program would come to an end, to the frustration of analysts who thought the bank had previously given assurances.

“I can’t say when we will be finished,” Elliott told an investor briefing yesterday, as the bank released its 2018/19 results.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.