Analysts Raise Royal Commission Damage Bill
Banking analysts at Morgan Stanley have lifted their estimate for customer remediation costs for the banks to $3 billion over the next two years, up from an earlier forecast of just $500 million.
Read MoreTag: ANZ
ANZ – Morgans rates the stock as Upgrade to Add from Hold
Morgans does not expect the additional provisions stemming from the Royal Commission to hamper the ability of the major banks to achieve APRA’s unquestionably strong CET1 benchmark by January 2020.
Read MoreCompensation Costs Mount At ANZ
The ANZ has revealed more than $800 million in additional costs for customer compensation as the bill for the big banks and AMP from the royal commission continues to mount.
Read MoreANZ – Macquarie rates the stock as Outperform
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.
Read MoreANZ – Morgan Stanley rates as Equal-weight
The bank has sold its NZ life insurance business to Cigna for NZ$700m. Morgan Stanley notes ANZ had not publicly stated the business was for sale, although believes the decision is consistent with the strategy to exit low-return and non-core businesses.
Read MoreANZ Offloads Kiwi Insurance Arm
The ANZ’s success in raising more than $640 million from another asset sale had no impact on its share price yesterday as investors continued to sell it and other financial stocks in the wake of the big offshore sell off on Tuesday in Europe and the US.
Read MoreANZ Mulls Additional Share Buyback
As Apple showed last week, there’s nothing like the sniff of extra cash from a buyback to get shareholders sweet on you and so it is with the ANZ Bank which yesterday hinted it could double its current $1.5 billion buyback.
Read MoreANZ – Citi rates the stock as Buy
Cash earnings in the first half were slightly above Citi’s estimates. The broker notes a large number of one-off items relating to divestments obscured the underlying trends. The CET1 ratio is growing rapidly and now at 11%.
Read MoreInvestors Shrug Off Downbeat ANZ
Investors gave the ANZ Bank’s interim profit result for 2017-18 a small cheer yesterday.
Read MoreANZ Lifts Interim Cash Profit 4.1%
The ANZ Bank will pay an unchanged interim dividend of 80 cents a share after reporting a 4% rise in cash profit to 3.49 billion.
Read MoreWealth Business Sales To Bite Into ANZ Result
The ANZ has joined the National Australian Bank (see separate story) in preparing investors for a big write down and multi-million dollar series of one off losses in its interim profit announcement next week (May 1).
Read MoreANZ Mulls UDC Finance Float
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.
Read MoreANZ – Morgan Stanley rates as Equal-weight
Morgan Stanley notes the bank is considering an IPO of its New Zealand asset finance business, UDC. Last year, a planned sale of UDC to HNA Group did not proceed. Rating is Equal-weight. Target is $29.30.
Read MoreANZ – Morgan Stanley rates the stock as Equal-weight
Morgan Stanley notes the bank has completed more than 50% of its $1.5bn buyback. A further $4bn in buybacks could be undertaken over the next two years. The broker believes a special dividend is unlikely but growth in the ordinary dividend should resume in FY19.
Read MoreANZ – Morgan Stanley rates as Equal-weight
Morgan Stanley observes Australia’s major banks face a deteriorating revenue growth outlook and increased scrutiny, with little room to deliver positive surprise on expenses, loan losses and capital management. The broker believes ANZ offers a good cost story and improving risk profile against this backdrop.
Read MoreANZ – Morgan Stanley rates the stock as Equal-weight
ANZ’s first quarter update revealed a lower loan loss charge and a slightly better than expected CET1 ratio. No specific details were given, but the update suggests to Morgan Stanley that first half profit is tracking ahead of the broker’s forecast of $3,550m.
Read MoreANZ – Deutsche Bank rates the stock as Hold
The bank has confirmed the sale of UDC to HNA Group will not proceed. This follows the announcement that the NZ regulator has rejected the transaction.
Read MoreANZ – Morgan Stanley rates the stock as Equal-weight
Morgan Stanley expects cash profit to be flat for two years. The capital release from asset sales should position the bank to undertake around $3bn in buybacks in 2018 and 2019 and maintain modest growth in earnings per share and dividend.
Read MoreZurich Buys ANZ’s OnePath
Swiss insurer, Zurich Insurance will pay $2.85 billion ($US2.14 billion), for the ANZ’s life insurance business.
Read MoreANZ – Deutsche Bank rates the stock as Hold
Second half net profit was in line with Deutsche Bank’s forecasts, helped by very low bad debt charges. The broker was slightly disappointed with the results at the underlying level and total revenue slightly missed estimates.
Read MoreLeaner ANZ Hints At Buyback
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.
Read MoreANZ Full-Year Cash Profit Up 18%
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.
Read MoreANZ Settles With ASIC On Rate-Rig Claims
The ANZ yesterday settled a rate rigging case with ASIC ahead of the release of its full year financial figures on Thursday.
Read MoreFormer Kiwi PM Joins ANZ Board
Did we see a new chair of the ANZ Banking Group put in place across the Tasman for promotion in 2018 or 2019?
Read MoreANZ Offloads Wealth Management Business To IOOF
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.
Read MoreANZ Lifts Cash Profit By 5.3%
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.
Read MoreANZ Posts $3.4b Interim Cash Profit
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.
Read MoreANZ Reshuffles Cash Profit Up 31%
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).
Read MoreANZ Joins Move Away From Wealth Management
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.
Read MoreANZ Profit Slips, Flags More Asset Sales
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.
Read MoreANZ Divests Asian Retail Bank To DBS
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.
Read MoreANZ – Deutsche Bank rates the stock as Hold
ANZ will take a $360m post tax charge in the second half related to additional restructuring and software capitalisation changes, as well as changes to CVA methodology and Esanda dealer finance divestment.
Read MoreANZ Flags $360 Million Hit From New Charges
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.
Read MoreANZ Profit Dips 3%
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.
Read MoreANZ – Macquarie rates the stock as Outperform
Macquarie welcomes the bank’s strategic focus on returns rather than growth. The broker believes ANZ is the only bank that should deliver and improvement in returns over the next three years.
Read MoreANZ – Credit Suisse rates the stock as Neutral
While the bank has gone some way to re-basing its business and building credentials in capital allocation and enhancing returns, Credit Suisse suspects the re-balancing is likely to result in a near-term run down in revenue.
Read MoreANZ H1 Earnings Dive 24%
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.
Read MoreANZ – Deutsche Bank rates the stock as Hold
The update on bad debt guidance, which was delivered just five weeks ago, proves disappointing for Deutsche Bank.
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