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flag ANZ CEO urges banks to halt rural branch closures and fix misconduct, amid industry-wide reform efforts.

flag ANZ CEO Nuno Matos has urged major banks to jointly develop regional branches, banking hubs, and remote ATMs to combat declining financial access in rural Australia, following a decade of closures. flag Speaking at a parliamentary inquiry, he apologized for ANZ’s misconduct, including a $240 million penalty over errors in a government bond sale involving false data, unaddressed hardship requests, misleading interest rates, and fees charged to deceased customers. flag While ANZ denies market manipulation and says the government lost no money, Matos cited a “good news culture” and lack of self-awareness as root causes, calling for urgent cultural reform, accountability, and faster decision-making. flag The bank announced an 8% workforce reduction in 2025. flag The industry has agreed to halt further regional branch closures until at least mid-2027. flag NAB’s CEO Andrew Irvine is set to testify, following appearances by leaders from Commonwealth and Westpac.

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