Australia's ANZ has decided to halt its share buyback program, aiming to save $520 million for a strategic overhaul. This move reflects the bank's commitment to reassess its financial strategies and allocate resources more effectively. By prioritizing long-term growth over immediate shareholder returns, ANZ is positioning itself to adapt to changing market conditions and enhance its competitive edge.

ANZ, Australia's fourth-largest bank, has decided to scrap its share buyback in favor of investing in mortgage and commercial bankers. This strategic shift comes as the new CEO aims to enhance productivity and returns, signaling a positive move towards strengthening the bank's core operations. Such investments could lead to improved services for customers and potentially higher profits in the long run.