The ANZ releases its full-year figures early Thursday morning and Macquarie releases it's 2019-20 interim the next day, the continuing strength of the current rebound for the ASX 200 could very well depend on the results.
ANZ Bank has announced additional remediation charges of $559m. Unlike National Australia Bank's ((NAB)) recent additional charges, this does not relate to financial advice but rather to product reviews and fee & interest calculations.
Credit Suisse points out ANZ's recent announcement, that it may have been too conservative in its approach to mortgage lending, has been interpreted by some that this is an inflection point for growth.
It appears ANZ Bank's FY18 report slightly missed Morgans' expectations, but the broker is prepared to make the call this bank's rough patch is nearing an end. The next couple of years should be "smoother", if Morgans' assessment can be relied upon.
ANZ has reported a sector-leading capital position in its third quarter update, Macquarie observes, which provides scope for additional buybacks in FY19/20. The bank also recorded its lowest impairment charge since 2014.