Opposition treasury spokesman Joe Hockey is merely adhering on rhetorical populism when called on the federal government to play an active intervention in compelling Australian banks to toe the line on Reserve Bank of Australia's policy rates.

This according to Australia & New Zealand Banking Group (ANZ) chief executive David Bushby, who told ABC on Thursday that Mr Hockey's pronouncements were totally out of sync with the Coalition's usually sound policies on economic reforms.

His comments were made following ANZ's sterling full-year profit that saw a surge of 53 percent to bottom-line earnings of $4.5 billion from the year's start to the end of September, bettering that of National Australia Bank's (NAB) reported $4.2 billion in the same period.

The latest ANZ results were only bested by Commonwealth Bank of Australia's (CBA) huge $5.7 billion earnings achieved in the similar span of time.

Mr Bushby said that threats of parliamentary measures made by Mr Hockey in the event of non-action from the Labor government regarding his calls would be unfortunate for the Coalition, which he said was duly renowned for its historic observance of economic reforms.

The ANZ head called the ploy as pure populism, stressing that such measures would buck current trends in the banking sector, which has been witnessing soaring performances that saw ANZ getting its hefty shares of above expectations cash results.

ANZ said that the encouraging numbers covered all its operations and prompted for the issuance of 74 cents per share as final dividend for shareholders.

Such glaring profits lately returned by the country's major banks seemed to have convinced Mr Hockey to firmly advance his nine-point banking reform plan, which he maintained would spark healthy competition and fair profit in the banking industry.

Mr Hockey clarified that he is not against generating profits but they must be made within the environment of competitions, which he insisted would not be possible without government participation.

Also, analysts observed that profits reported by major banks, which mostly exceeded market projections, would contribute on their difficulties to justify mortgage rate movements that veer too far away from RBA's cash rates.