Banks Underperform As Afterpay Soars In 2019
If you exclude the likes of Afterpay Touch, then the financial sector did not help the wider market in 2019.
Read MoreTag: ANZ
Bank Shares Rally After NZ Regulators Lower Capital Hurdles
The shares of Australia’s big four banks rose strongly yesterday after the Reserve Bank of New Zealand watered down its new capital requirements.
Read MoreANZ Distances Itself From AUSTRAC Scandal
A clever move by the ANZ Bank yesterday to differentiate itself from its three major rivals, all of whom are struggling with problems with AUSTRAC, the financial intelligence agency.
Read MoreWhere Do The Banks Sit In The Switch From Growth To Value?
Jamie Nicol, Portfolio Manager for DNR Capital’s Australian Equities High Conviction Fund and SMA, spoke with Informed Investor about the rotation from growth to value.
Read MoreBank Earnings Review: Is The Worst Behind Us?
KPMG’s Major Australian Banks Year-End Analysis Report 2018-19 finds that the four majors reported a combined cash profit after tax from continuing operations of $26.9 billion, down 7.8% on FY2018.
Read MoreANZ Raises Eyebrows After Cutting Dividend Franking To 70%
ANZ’s move to partially frank its final dividend has sent ripples across the financial sector and triggered fears that Westpac on Monday and the NAB in a week’s time, will follow suit.
Read MoreANZ Holds Payout On Flat Result
The ANZ bank is maintaining final dividend at 80 cents a share after a weak full-year profit.
Read MoreBank Earnings Set To Test Market Confidence
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.
Read MoreANZ – Morgans rates the stock as Add
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.
Read MoreANZ Joins NAB With Fresh Remediation Hit
Last week it was the National Australia Bank with a $1.1 billion surprise lift in its remediation costs for customers, yesterday it was Melbourne-based rival, ANZ with another $559 million of its own.
Read More“Premium”: RBA Warns On Bank Earnings
In its second and final stability review for 2019, the RBA has warned on a combination of factors that will depress bank earnings, starting with the continuing rise in customer remediation over abuses exposed by the Hayne Royal Commission.
Read MoreANZ Completes Sale Of PNG Retail Banking To Kina Securities
Ahead of its September 30 balance date for its 2018-19 financial year ANZ Bank has completed the sale of its retail and small business banking operations in Papua New Guinea.
Read MoreCould APRA’s New Capital Requirements Crimp Bank Dividends?
The chances of the banks paying higher dividends in the coming years look to have diminished after APRA ordered Westpac, NAB and ANZ to set a total of $1.5 billion in extra capital aside.
Read MoreBanks Respond To Revised Capital Buffers
Weaker bank shares helped take the wider market lower for another session, but the day’s loss was nowhere near as damaging as Monday’s 1.2% slump.
Read MoreHow The Banks Responded To The RBA Decision
The RBA’s second 0.25% rate in two months had a predictable impact on bank share prices – down they went, taking the ASX 200 with them.
Read MoreCBA Leads Bank Rebound In June Half
Redemption? Sort of; but the way the share prices of Australian banks rebounded in the June half year was extremely helpful to super funds and self-managed funds and investors generally.
Read MoreTalking Income – Banks, Telstra, Woolworths & New Opportunities
Scott Kelly, Portfolio Manager for the DNR Capital Australian Equities Income SMA, gives Informed Investor his thoughts about which are the best income stocks on the ASX at the moment.
Read MoreANZ New Zealand CEO Exits Following Expenses Review
ANZ Bank’s New Zealand woes continue with it’s country head, David Hisco leaving the bank amid claims of expenses irregularities.
Read MoreRBA Boss Warns Banks On Undermining The Economy
ANZ and Westpac failed to pass on the full 0.25% cut from the Reserve Bank to its mortgage customers and immediately faced pressure from the central bank.
Read MoreANZ Completes Life Insurance Sale To Zurich
ANZ has finally completed the $2.85 billion sale of its Australian life insurance business to Swiss giant Zurich.
Read MoreBanks Bounce As APRA Loosens Lending Reins
Bank shares had a second good day on the ASX yesterday after their post-election surge on Monday. Monday it was Prime Minister Morrison’s surprise win, yesterday it was APRA as the financial prudential regulator revealed plans to relax a key restriction on home loans.
Read MoreIOOF – ANZ Super Deal Faces New APRA Hurdle
More doubt has been cast on the proposed near $1 billion sale by ANZ Bank of its superannuation business to IOOF.
Read MoreBanks – Is The Worst Over? No.
Some brokers have started to upgrade their recommendations to “BUY” on the banks and believe that they represent value in and around these levels. I still strongly disagree.
Read MoreANZ Holds Dividend Steady On Flat Result
The ANZ is maintaining interim dividend at 80 cents a share after reporting a 2% rise in cash profit to $3.56 billion for the six months to March 31.
Read MoreRBA Downbeat On Outlook For Major Banks
With three big banks reporting interim results in early May, it will pay investors to look at the first Financial Stability Review of 2019 from the Reserve Bank and remarks on the profits and earnings.
Read MoreANZ – Credit Suisse rates the stock as Downgrade to Neutral from Outperform
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.
Read MoreBanks Emerge From The Royal Commission Blues
It’s only been a month since Hayne’s final report has been released, but far from driving a stake through the financial hearts of the Big Four Banks – Commonwealth, Westpac, ANZ and NAB – their position is returning to being as dominant as ever.
Read MoreRoyal Commission Triggers Relief Rally In Financials
More than $20 billion was added to the value of listed financials – lead by the big four banks yesterday after investors concluded the outcome from the Hayne banking and finance royal commission would not damage their business models our futures.
Read MoreRoyal Commission Singles Out NAB CEO & Chair
The National Australia Bank is in the gun following the release of the final report from the royal commission which contained very sharp criticism of the bank’s chairman and CEO.
Read MoreBanks, Regulators Brace For Royal Commission Fallout
The long-awaited final report from the finance and banking Royal Commission will be released this afternoon at 4.10 pm (there is a media lock up this afternoon ahead of the release) and while there will be a lot of heat and light and promises from the Morrison government, there will be nothing concrete.
Read MoreBelligerent Shareholders Strike Out At Banks
Now for the AMP next May after three of the four big banks took hits from upset shareholders at annual meetings in November and December.
Read MoreKiwi Central Bank Set Force Big Four Banks To Boost Capital Reserves
Australia’s big four banks, already reeling from a stagnant home loan market and revenues, the fallout from the Hayne Royal Commission and censure from upset shareholders, now face more financial problems in their most profitable offshore market – New Zealand.
Read MoreNAB, ANZ Set To Face Shareholder Revolt
Westpac was on Wednesday, it will be the turn of NAB and ANZ next Wednesday to feel the wrath of shareholder displease over the revelations at the Hayne royal commission.
Read MoreAPRA Eyes Higher Bank Capital Requirements
More hybrids and other issues to come from our slimming banks? That could be the outcome of a new move by APRA, the banking regulator to force banks to hold more loss-absorbing capital by 2023.
Read MoreWhat’s Next For The Big Four Banks?
The big four banks have survived a tough year financially unscathed, but with their reputations sullied what does 2019 look like?
Read MoreANZ – Morgans rates the stock as Add
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.
Read MoreANZ To Keep Kiwi Finance Division UDC
Fresh after announcing a 5% fall in cash earnings and an unchanged final and full year dividend, ANZ says it has abandoned attempts to float its unwanted NZ finance arm, UDC Finance.
Read MoreANZ Maintains Dividend As Cash Earnings Slide 5%
ANZ will not require shareholders to feel the pain of the cost of righting the problems and rorts exposed in the Hayne Royal Commission into misconduct in financial services.
Read MoreAnalysts 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 MoreANZ – 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.
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