A$6 billion in 2019, with the bank attributing the drop to the Covid-19 pandemic and "full year credit impairment charges" of A$2.74 billion as a result. After tensions between China and Australia resulted in China imposing trade curbs on imports from Australia in October 2020, the CEO of ANZ stated to CNBC that the company was also "looking for opportunities" in other Asian countries beyond China as well. It was reported in March 2021 that ANZ was planning to cut its workforce in China by half, and shift the positions elsewhere. In November 2021, Reuters reported that ANZ was being sued by a law firm in a class action lawsuit for unfair contract terms, after ANZ allegedly charged interest on customer purchases that had been repaid on time. The lawsuit focused on charges levied prior to January 2019, when an Australian law outlawing charging retrospective interest had been implemented. In December 2021, ANZ pled guilty in a case filed by the Australian Securities & Investments Commission to breaching its obligations as a financial services and credit licensee provider, and not fully disbursing benefits to 500,000 customers. An A$25 million penalty was proposed. ANZ said it was combining its digital division and its Australian retail business in February 2022. In April 2022, ANZ was involved in a joint venture with Scentre Group, Westpac, IBM and the Commonwealth Bank named Lygon, a blockchain startup. In July 2022, ANZ agreed to terms with Suncorp to purchase Suncorp Bank for . The deal, which is subject to regulatory approval, is expected to take over 12 months to complete. Executive leadership Chief Executives The following individuals have been appointed to serve as chief executive: Australia and New Zealand Bank Limited, 1951–1970 Australia and New Zealand Banking Group, since 1970 Chairs of the Board The following individuals have been appointed to serve as chairman of the board: Australia and New Zealand Bank Limited, 1951–1969 Australia and New Zealand Banking Group, since 1969 Organisational structure Australia Retail Products Retail Distribution Commercial Banking Wealth (including ETrade in Australia and OnePath) ANZ Bank New Zealand ANZ Bank Bonus Bonds Institutional Banking Institutional banking Corporate Finance Working Capital Corporate banking Economics@ANZ Asia and Pacific ANZ Amerika Samoa Bank ANZ Fiji ANZ Royal Bank International Partnerships Operations Personal banking Personal banking is one of the largest divisions within ANZ. It provides financial services including banking and lending products to the general