Business
ANZ’s bad news day better than expected – Sydney Morning Herald
A surprise element of the result has been the way customers have responded to the dire threats to their finances.
More unexpected has been the way customers have responded to the dire threats to their finances.
As ANZs chief executive Shayne Elliott says, the banks small business customers have responded to the pandemic as a good corporate treasurer of a big business might have.
Theyve hoarded cash ANZs customer deposits have soared $21 billion.
Theyve not raided their reserves balances in offset accounts have risen $6 billion.
Theyve paid down their highest-cost debt credit card balances have fallen 18 per…
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