Tag: ANZ

The ANZ Bank says it will now look at floating its NZ asset finance business UDC after a trade sale to a mystery Chinese company was blocked late last year.

Swiss insurer, Zurich Insurance will pay $2.85 billion ($US2.14 billion), for the ANZ’s life insurance business.

The ANZ Bank, after revealed the 18% lift in 2016-17 cash profit to $6.94 billion and has hinted that its is looking at handing cash back to shareholders in the form of a buyback.

As expected the ANZ’s 2016-17 profit rose strongly from the previous year’s weaker outcome that was hit by more than $1 billion in write offs and other charges. The bank said cash profit rose 18% to $6.94 billion, just short of the $7 billion some analysts had pencilled in.

The ANZ yesterday settled a rate rigging case with ASIC ahead of the release of its full year financial figures on Thursday.

Did we see a new chair of the ANZ Banking Group put in place across the Tasman for promotion in 2018 or 2019?

ANZ continues on its self-inflicted diet with the news yesterday that it will sell its superannuation and financial planning businesses to IOOF Holdings for $975 million.

The ANZ Bank has confirmed that the big banks are through the worse of rising bad debts, weak revenues and higher capital demands with a surprisingly solid third quarter trading update this morning.

ANZ says its core equity tier one capital ratio will take a hit of 26 basis points (0.26% or 26 cents in the dollar), after the banking regulator completed a review of its risk weighting system.

Thumbs down for the ANZ’s interim profit result yesterday from investors worried about what the figures didn’t say. Early on the shares were down close to 3%, but the selling eased during the day and they closed off 2.1% at $32.25.

Low interest rates not only help banks sell more loans, say for housing, but they also mean (if credit screening procedures are right) lower bad debts because fewer customers are under pressure.

On the face of it the ANZ’s first quarter trading update showed a bank doing well, perhaps better than its peers like the Commonwealth (CBA) and the National Australia Bank (NAB).

The ANZ Bank (ANZ) has cracked and wants to go to being just being a bank. A big bank, mind you but not being a vertically integrated all singing and dancing one stop product shop, that also is a bank.

As forecast by ShareCafe earlier this week, the ANZ Bank (ANZ) has cut its final dividend payout to shareholders on top of its lowered interim payout as the impact of rising bad debts and the slow revamp of its operations and move away from Asian retail banking takes hold.

The ANZ Bank (ANZ) continues to clean up its balance sheet. Last Friday it revealed another $360 million in losses and write downs of assets and including $100 million in new restructuring costs.

The ANZ Bank (ANZ) reports its 2015-16 full year figures on Thursday and ahead of that release, it has boosted its full year write offs and losses to more than $1 billion with another round of charges revealed on Friday. The bank said it will take a $360 million hit in the September 30 half after the lender unveiled new charges for at-risk debts and restructuring costs.

Shareholders in the ANZ Bank (ANZ) will be worried there are more time bombs to come following the third quarter trading update issued this morning which saw another rise in bad debt provisions here and in Asia.

A day after Westpac produced a weak result that didn’t fool the market and suggested the long bank boom was over, the ANZ has hammered a huge nail in the coffin by revealing plans to slash shareholder payouts this year for the first time since the GFC.

Bank shares took a battering today in the wake of the second downgrade from the ANZ for its bad debts position ahead of the bank’s ruling off its interim results next Thursday, March 31.

The ANZ has joined its fellow Melbourne-based bank, NAB, in reporting a solid first quarter as the bank industry continues to enjoy far better conditions than all the gloomy analysts and bankers had forecast.

Shareholders in ANZ yesterday joined their peers in rival Westpac (WBC) in giving their board and senior management a towelling over remuneration for senior executives.

Forget all the media and some commentary hyping the NAB full year result yesterday – the 2% slide in the bank’s share price exposed that for the rubbish it was. Look instead to the just released full year figures for the ANZ – they are not good, with the barest of profit rises and an unchanged final dividend – all pointing to just how tough conditions are for these still very profitable enterprises.

So much for the eight year reign of Mike Smith at the ANZ as CEO.

The ANZ will be on the look out for a CEO after the incumbent, Mike Smith, confirmed yesterday that he will be gone by the end of next year.

According to yesterday’s trading update and subsequent briefing from CEO Mike Smith and the bank’s chief financial officer Shayne Elliott, times are challenging, the ANZ is hunkering down with a sharper focus on costs, but at the same time there are lots of positives, businesses are performing strongly and in some, the bank is ahead of its rivals.

ANZ took the market by surprise, especially its peers, yesterday when it revealed a $3 billion capital raising to boost its capital base closer to new requirements for the big banks to hold more capital to make them safer and strong enough to ride out a downturn or crisis.

Something will have to give. Interest rate cuts, like we got yesterday from the Reserve Bank can only work so far in boosting bank incomes. Our big banks are starting to run into headwinds and investors have been warned – by the head of the ANZ no less.

So will the ANZ Bank’s (ANZ) interim profit see bank stocks reverse their sell off of yesterday after Westpac (WBC) disappointed with a weak interim financial report?

Now many investors won’t be happy to see this trading update from the ANZ because it indicates the variable strength in the banking sector, especially for banks with significant international operations as the ANZ has.

ANZ Bank’s shares will resume trading this morning after the bank owned up to an embarrassing disclosure gaffe yesterday.

While the ANZ Bank (ANZ) has joined Bendigo and Adelaide (BEN) and the Commonwealth Bank (CBA) in reporting a solid profit in its June quarter update, there was a small, but significant stig in the announcement made this morning.

The ANZ justified the rapid run up in its share price by reporting a solid 11% rise in cash earnings to a record $3.4 billion, and will lift interim payout to shareholders by 14%, to a record 83 cents a share.

A sharp fall (yet again for a big bank) in bad debts at the ANZ in the three months to December prompted a sharp reappraisal of the outlook for the banks yesterday, a day before the CBA reported its record interim result.

First the ANZ tops expectations, will the National Australia Bank follow tomorrow?

The headline figures looked good, but the market didn’t like the interim results from the ANZ yesterday: it seems there were too many unanswered queries about the quality of the earnings.

ANZ has buckled and followed the Commonwealth Bank eight days later in lifting its standard variable mortgage rate by more than the Reserve Bank’s 0.25% rate rise on Melbourne Cup Day.

In many respects the ANZ’s 2010 results yesterday was a carbon copy of the NAB’s earnings news the day before. 

The market wasn’t all that convinced by ANZ’s interim profit, not that it looked light on, just that there was less growth than expected, especially from Asia where the bank is expanding, and Australia.