ANZ Bank CEO sees only modest rise in customers needing help

Customers are mostly “faring extremely well” as they adjust spending patterns due to the elevation in borrowing costs, Elliott said in testimony to a parliamentary committee. — Bloomberg

CANBERRA: ANZ Group Holdings Ltd chief executive officer Shayne Elliott says he’s seen a “modest” increase in customers reaching out for help, just a sliver of a broader group of people and businesses who are largely adapting well to higher interest rates.

Customers are mostly “faring extremely well” as they adjust spending patterns due to the elevation in borrowing costs, he said in testimony to a parliamentary committee yesterday.