ANZ renews focus on business banking

ANZ Bank's new boss of institutional banking Peter Hodgson has said that volume by itself is not a worthwhile pursuit. Mr Hodgson said that while he would be keeping an eye on costs it would only be to keep them in line with revenue opportunities and promised faster decision making. Over the past two years the Bank's share of business lending has shrunk from 18.3 per cent to 16.4 per cent and at the announcement of the March half-year profit chief executive John McFarlane said that the result would have been “an absolute stunner” if not for institutional banking.