ANZ CEO confident business banking will pick up in 2015

ANZ CEO Phil Chronican has expressed confidence in Australian business, predicting growth in business lending following a period of economic uncertainty.

Speaking to ANZ’s BlueNotes media portal, Chronican said the Big Four Bank had been hoping for business banking to pick up for some time, and believed 2015 would be a turning point for the industry.

“It’s that confidence, that willingness to go out and make the investment that has been weak,” he said.

“We’re pretty confident that we’re going see [growth] in 2015. But it’s something we’ve been waiting for a long time.”

In addition to making ground in business banking, Chronican believes ANZ will hold onto its strong market share in the home loan market (12% according to July’s AFG Competition Index).

“We’re in our fifth year of market share gains in the home loan market,” he said.

“[We have] strong customer satisfaction and improving customer complaint levels.

“All of the things that we’ve been trying to do to get our business working right are starting to come to fruition. I think we’ve got a fair amount of time ahead of us where we can continue these sorts of gains.”