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Tag: ANZ

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Royal Commission Triggers Relief Rally In Financials

February 6, 2019February 6, 2019 - by Glenn Dyer

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.

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Royal Commission Singles Out NAB CEO & Chair

February 5, 2019February 5, 2019 - by Glenn Dyer

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.

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Banks, Regulators Brace For Royal Commission Fallout

February 4, 2019 - by Glenn Dyer

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.

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Belligerent Shareholders Strike Out At Banks

December 20, 2018 - by Glenn Dyer

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.

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Kiwi Central Bank Set Force Big Four Banks To Boost Capital Reserves

December 14, 2018 - by Glenn Dyer

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.

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NAB, ANZ Set To Face Shareholder Revolt

December 14, 2018 - by Glenn Dyer

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.

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APRA Eyes Higher Bank Capital Requirements

November 9, 2018November 8, 2018 - by Glenn Dyer

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.

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What’s Next For The Big Four Banks?

November 6, 2018November 6, 2018 - by Glenn Dyer

The big four banks have survived a tough year financially unscathed, but with their reputations sullied what does 2019 look like?

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Broker News

ANZ – Morgans rates the stock as Add

November 1, 2018November 1, 2018 - by Broker News

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.

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ANZ To Keep Kiwi Finance Division UDC

November 1, 2018October 31, 2018 - by Glenn Dyer

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.

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ANZ Maintains Dividend As Cash Earnings Slide 5%

October 31, 2018October 31, 2018 - by Glenn Dyer

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.

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Analysts Raise Royal Commission Damage Bill

October 11, 2018October 10, 2018 - by Glenn Dyer

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.

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ANZ – Morgans rates the stock as Upgrade to Add from Hold

October 9, 2018 - by Broker News

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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Compensation Costs Mount At ANZ

October 9, 2018October 9, 2018 - by Glenn Dyer

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.

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ANZ – Macquarie rates the stock as Outperform

August 15, 2018 - by Broker News

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.

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Broker News

ANZ – Morgan Stanley rates as Equal-weight

May 31, 2018 - by Broker News

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.

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ANZ Offloads Kiwi Insurance Arm

May 31, 2018 - by Glenn Dyer

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.

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ANZ Mulls Additional Share Buyback

May 9, 2018 - by Glenn Dyer

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.

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Broker News

ANZ – Citi rates the stock as Buy

May 2, 2018 - by Broker News

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%.

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Investors Shrug Off Downbeat ANZ

May 2, 2018 - by Glenn Dyer

Investors gave the ANZ Bank’s interim profit result for 2017-18 a small cheer yesterday.

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ANZ Lifts Interim Cash Profit 4.1%

May 1, 2018 - by Glenn Dyer

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.

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Wealth Business Sales To Bite Into ANZ Result

April 24, 2018 - by Glenn Dyer

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).

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ANZ Mulls UDC Finance Float

March 21, 2018September 5, 2018 - by Glenn Dyer

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.

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Broker News

ANZ – Morgan Stanley rates as Equal-weight

March 20, 2018September 5, 2018 - by Broker News

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.

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Broker News

ANZ – Morgan Stanley rates the stock as Equal-weight

March 15, 2018September 5, 2018 - by Broker News

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.

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Broker News

ANZ – Morgan Stanley rates as Equal-weight

March 8, 2018September 5, 2018 - by Broker News

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.

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Broker News

ANZ – Morgan Stanley rates the stock as Equal-weight

February 21, 2018September 5, 2018 - by Broker News

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.

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ANZ – Deutsche Bank rates the stock as Hold

January 15, 2018 - by Broker News

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.

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Broker News

ANZ – Morgan Stanley rates the stock as Equal-weight

December 14, 2017 - by Broker News

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.

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Zurich Buys ANZ’s OnePath

December 12, 2017 - by Glenn Dyer

Swiss insurer, Zurich Insurance will pay $2.85 billion ($US2.14 billion), for the ANZ’s life insurance business.

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Broker News

ANZ – Deutsche Bank rates the stock as Hold

October 27, 2017 - by Broker News

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.

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Leaner ANZ Hints At Buyback

October 27, 2017 - by Glenn Dyer

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.

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ANZ Full-Year Cash Profit Up 18%

October 26, 2017 - by Glenn Dyer

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.

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ANZ Settles With ASIC On Rate-Rig Claims

October 24, 2017 - by Glenn Dyer

The ANZ yesterday settled a rate rigging case with ASIC ahead of the release of its full year financial figures on Thursday.

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Former Kiwi PM Joins ANZ Board

October 19, 2017 - by Glenn Dyer

Did we see a new chair of the ANZ Banking Group put in place across the Tasman for promotion in 2018 or 2019?

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ANZ Offloads Wealth Management Business To IOOF

October 18, 2017 - by Glenn Dyer

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.

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ANZ Lifts Cash Profit By 5.3%

August 15, 2017 - by Glenn Dyer

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.

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ANZ Trims Capital Ratio After APRA Review

June 2, 2017 - by Glenn Dyer

ANZ says its core equity tier one capital ratio will take a hit of 26 basis points (0.26% or 26 cents in the dollar), after the banking regulator completed a review of its risk weighting system.

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Investors Markdown ANZ

May 3, 2017 - by Glenn Dyer

Thumbs down for the ANZ’s interim profit result yesterday from investors worried about what the figures didn’t say. Early on the shares were down close to 3%, but the selling eased during the day and they closed off 2.1% at $32.25.

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ANZ Posts $3.4b Interim Cash Profit

May 2, 2017 - by Glenn Dyer

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.

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