ANZ chief executive Shayne Elliott was not allowed to stick just to fintech topics at yesterday's AltFi Australasia Summit 2017. Especially once he said his "real strategy" was to simplify ANZ's business lines by selling off non-core assets. Elliott said this was more of an imperative for Australian banks in general, since for every $1 in deposits, $1.30 is lent - and the difference is met through the banks borrowing from capital markets. This prompted a question from a delegate who identified themselves as an employee of a leasing firm and asked: "If you've sold off Esanda as a non-core asset, does that mean leasing is no longer seen as core business for ANZ?" Elliott responded that ANZ "had no particular competitive advantage" in financing car loans. In fact, a decisive factor was that Esanda's customers told ANZ that they saw their financial relationship not with the bank but with the car dealers. With a bankers' new-found enthusiasm for multiple product customer relationships, Elliott said Esanda's $8 billion worth of assets could be better applied "where we could make more money for our shareholders". He added: "We do leasing of yellow goods to mining and construction companies, which is on strategy as they have a banking relationship with us, where we do more than one thing with them."