Mr Elliott said: “This is a defining moment for both our company and industry. It has been a humbling experience for me, our leaders and all our people - we have learnt from this and accepted responsibility for our failings.
“The final report and the insights arising from the Commission will change our industry for the better. It provides a thoughtful path forward that will ultimately result in a better banking system for all Australians.
“ANZ is committed to continuing the work and investment required to build a bank worthy of the trust and respect of our customers and the community as well as helping ensure these failures aren’t repeated.
“I recognise the size and nature of our compliance and culture challenge. And I am determined we deal with it.
“While we are urgently reviewing the report in detail, we do so acutely aware of the role we play in enhancing the prosperity of the Australian economy and will engage constructively with all stakeholders on any reforms arising from Commissioner Hayne’s recommendations,” Mr Elliott said.