Australia's ANZ flags large remediation and restructuring items ahead of results

Mark Battersby
clock • 2 min read

ANZ, one of Australia's ‘big four' banks, revealed on 20 October in an official notice that its "second half 2021 Statutory and Cash profit will be impacted by two Large / Notable items", ahead of its Full Year 2021 result to be announced on Thursday 28 October. Namely, remediation charges of $113m (after tax) primarily relating to banking product reviews in the Australia Retail and Commercial division, and restructuring charges of $16m (after tax). In aggregate, the banking group said its second half 2021 Statutory and Cash profit after tax will be impacted by $129 million, equivalen...

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