Slow loan approvals hit ANZ results: CEO

ANZ chief executive Shayne Elliott says the length of time the bank has taken to approve customers' loans contributed to its failure to improve on last year's annual profit.

Mr Elliott told MPs in Canberra on Friday that the lender's FY19 results, which featured a cash profit and a disappointing return on equity of 10.9 per cent, reflected a range of issues including record low interest rates and heightened competition.

"In addition, ANZ hasn't always approved loans as quickly as we should have," Mr Elliott said.

Austrlaian Associated PressBack to Breaking News

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