ANZ to take $376.4 mln hit to second-half cash profit


Oct 27 (Reuters) - Australia and New Zealand Banking Group ANZ.AX said on Tuesday it expects to take an after tax hit of A$528 million ($376.41 million) to its cash profit in the second half, primarily due to remediation costs.

Australia's fourth-largest bank said these items would have a 5 basis point impact on its common equity tier-one capital ratio.

($1 = 1.4027 Australian dollars)

(Reporting by Shriya Ramakrishnan in Bengaluru)

((; +91 8061822842 ;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.