ANZ expects to reveal how it intends to dispose of its Australian wealth business by the end of the calendar year, with an IPO among its options.
ANZ has already said it wants to distribute life insurance, advice and superannuation products rather than manufacture them, and has sounded out global companies on their interest.
Chief executive Shayne Elliott said on Tuesday the bank expected to get initial responses in the next month and to be in a position to update the market on its plans by the end of 2017.
"We would consider all options here and it may well be ... one of the partners says 'we'd love to partner with you but the best solution is to float part of this business' and we may decide that's the best thing to do," Mr Elliott said.
ANZ has spent Mr Elliott's 18-month tenure streamlining its operations and has already agreed on the sale of its wealth operations in six Asian countries
After announcing a $3.4 billion first-half profit, Mr Elliott said ANZ was focused on getting the right deal rather than making a quick decision.
"This isn't about selling something, this is about a strategic partnership - a partnership that it's likely would involve us signing up to a 15- or 20-year agreement," he said.
"It's a pretty important decision and we're just at the beginning of it."
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