Ann: Market Update , page-19

ANZ - you are absolutely correct !

The Chairman has "steered" this group to where it is today and continues to ride the waves unaffected whilst continuing to pocket his $'000's in directors fees - the same guy who refused to consider the $23 per share offer !!

For what was touted as the "fifth largest bank" it has become a joke making just $4m profit - and this is when the big four continue to make record profits at increased lending margins; even Adelaide & Bendigo Bank are creaming it.

If it hadn't been for increased premiums in the insurance arm and better weather conditions making for fewer claims then we would have been completely up the creek.

I hear most of the senior bank staff have left during the past 2 years and if what is left can't run a bank properly they should get out of the game and put it on the market - albeit it won't be worth much at the current profitability.

This has become a "shorter's" paradise as the professionals continue to sell the stock down with few interested in buying at current levels.

The Board and others just can't continue to blame the previous CEO - it is the Board that sets the direction of the Company and it should take some accountability for the current situation.