Nuno Matos is officially in the hot seat at ANZ.
The executive began his tenure as chief executive officer of the major on Monday, outlining his growth strategies amid continued inflationary pressures and rising prices in Australia.
Matos stepped into the role earlier than planned, after originally agreeing to start on July 3. He takes over from former Chief Executive Officer Shayne Elliott.
In his inaugural message to customers, Matos emphasized a commitment to enhancing financial wellbeing and addressing the pressing cost-of-living pressures faced by many Australians.
"I’m also acutely aware [that] many in the community are finding the cost-of-living challenge hard," Matos said. "If you find yourself in a difficult financial situation, please reach out to our teams. We are here to help.
"I’m going to be spending the coming months listening to all our stakeholders and I want to hear from you," he added.
Matos said the bank would continue investment in new products and services to help customers "get ahead in life as well as help improve your financial wellbeing."
Additional initiatives include investing in regional hubs to improve customer service at banks outside of Australia's capital cities, as well as ensuring cash accessibility nationwide and investments in scam protection. In addition, throughout all of Australia, the customers will soon be able to access banking services at their local post offices.
Matos's leadership arrives at a pivotal time for the mortgage industry. While mortgage costs may continue to ease thanks to the Reserve Bank of Australia's (RBA) anticipated rate cuts at its meeting on monetary policy later this month, housing affordability, supply shortages and rising prices are still a concern among mortgage holders and investors alike.
In addition, it's yet to be seen how Prime Minister Anthony Albanese's recent election will play out in the housing arena.
SQM Research Managing Director Louis Christopher said national house prices could increase as much as 15%, under Albanese's proposed housing schemes, including the 5% Deposit Scheme. Rising prices could potentially benefit current property owners more than first-time buyers
Meanwhile, a number of banks, including several of Australia's Big Four, have reported earnings earlier this month. Amid a myriad of results, some banks revealed plans to move away from the third-party broker channel at a time when borrowers are becoming increasingly reliant on brokers for their financial needs.
According to the latest figures, released in March, approximately 76% of all new residential home loans in Australia are written by mortgage brokers, according to the Mortgage & Finance Association of Australia (MFAA).
In the case of ANZ, the bank was among the banks that leaned into the third-party broker channel. ANZ's net profits rose to 10.99 billion for the six months ending March 31, up 5% from the prior period. The bank's retail brand wrote approximately 86,000 new home loans in 2025's first half, valued at $42 billion. That's an increase of 2%, year-over-year. And 67% of those loans were written by brokers, up from 65% for all of financial year 2024.
"ANZ remains committed to supporting the broker channel as they play a pivotal role in helping Australians' achieve homeownership," a representative from ANZ told Australian Broker. "The broker network is a strategic pillar of ANZ’s mortgage business, and we continue to invest in its growth. Our recent half-year results underscore the depth of this partnership, and we’re confident it will continue to strengthen in the years ahead.
But other banks, including Commonwealth (CBA), National Australia Bank (NAB) and Bank of Queensland (BOQ) have revealed reduced reliance on the third-party broker channel, instead opting to build out their own proprietary lending networks.
For brokers, the arrival of Matos signals continuity, but could also mean new opportunities are on the horizon. Focusing on regional support and an expansion of access to banking throughout the country could lead to stronger client relationships for brokers as well. In addition, ANZ's investment in its digital capabilities could provide brokers with added tools to assist borrowers.
