ANZ Scraps Buyback to Invest in Mortgage, Commercial Bankers

Core Viewpoint - Australia's fourth-largest bank by market capitalization has decided to cancel its share buyback program and will focus on investing in mortgage and commercial banking to enhance productivity and returns under the leadership of its new CEO [1] Group 1 - The bank is the fourth-largest in Australia based on market capitalization [1] - The decision to scrap the share buyback indicates a strategic shift in focus towards growth areas [1] - The new CEO aims to boost productivity and returns through targeted investments [1]