ANZ Bank Slapped with $1 Billion Capital Charge Over Governance Failures
2025-04-03
Sydney Morning Herald
The Australian financial regulator has condemned ANZ for its prolonged governance failures, ordering the bank to hold $1 billion in capital until it rectifies its cultural issues. This move comes after an independent review highlighted the need for significant reforms. The bank's risk management and compliance practices have been under scrutiny, with the regulator emphasizing the importance of robust governance and cultural transformation. As a result, ANZ must now prioritize its cultural overhaul to regain the trust of its stakeholders and comply with regulatory requirements, ultimately ensuring the stability of the financial system and promoting transparency and accountability in banking practices.