ANZ held its annual general meeting yesterday, choosing Perth as its venue. This was the first major presentation from the bank's board and executives since the conclusion of the royal commission into misconduct in the banking, superannuation and financial services industry.The bank's shareholders came well prepared with a list of questions, most of which were fielded by chairman David Gonski. He also had to contend with the bank's first seriously negative vote - 34 per cent against its executive remuneration report - and the mood spilled into the rest of the agenda items.Set piece speeches by Gonski and CEO Shayne Elliott were packed with apologies, as well as outlining the steps ANZ will be taking to either redress wrong of the past and try to ensure these do not recur.Early on, though, Gonski had to reassure nervous investors that ANZ will continue paying franked dividends after one shareholder noticed the banking group's franking credit balance was down on last year. ANZ paid approximately A$2.5 billion in income tax last year, Gonski observed.Of more concern was ANZ's apparent support for the coal sector, with a shareholder observing that ANZ's loans to that sector had increased over FY 2017.Gonski countered that ANZ's policy was unchanged and ANZ had reduced its exposure to the coal sector at an annualised rate of 15 per cent. It now stands at 0.15 per cent of the group's total assets. "I can confirm that no new lending has been made, and it was an accounting reclassification that made it appear in the annual report that lending had increased," he said.Elliott also jumped in to support his chairman, adding that ANZ has publicly-available positions on coal, which would rule out lending to Adani - a common theme of questioning throughout the meeting - although he declined to mention individual customers.The awkward topic of the legal proceedings by ACCC against [former ANZ treasurer] Rick Moscati in relation to alleged cartel behaviour over the underwriting of an equity issue made by the bank was raised by another shareholder. She was concerned that the company is backing Moscati's legal costs, having paid out more than $30,000 already."That is company money and if we were in the same situation a bank wouldn't fund our legal representation," the shareholder asserted.Gonski cited other businesses he is involved in, and that it was common practice to take the view of innocent until proven guilty for an employee of good standing."That figure [for legal costs] may be covered by insurance anyway," he added.The same shareholder also reminded Gonski that the charges being brought by the ACCC over the cartel behaviour also included executives from Deutsche Bank and Citigroup, before moving to her punchline:"We have people sitting on the board from Deutsche Bank and have people [on the ANZ board] who have worked at Citibank. It feels like these people are being protected," she observed, asking this was sending the right message.Gonski said: "I do understand the anger that people feel, [but] if all the people who