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

Credit: REUTERS/EDGAR SU

Australia and New Zealand Banking Group 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.

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)

((Shriya.Ramakrishnan@thomsonreuters.com; +91 8061822842 ;))

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