Australian Banks Will Feel Virus Heat Next Year: ANZ Chief

The CEO of ANZ Shayne Elliott speaks at the ANZ annual general meeting at the Brisbane Convention & Exhibition Centre on December 17, 2019 in Brisbane, Australia. Bradley Kanaris/Getty Images

ANZ’s chief expects banks to feel the worst of the COVID-19 pandemic in the middle of next year.

Shayne Elliott believes the economy will be at its low point between now and the end of 2020, which will flow on to the banking sector.