Business
ANZ takes $212m profit hit after Malaysian corruption settlement – Sydney Morning Herald
ANZ’s Malaysian bank has been fined $900 million fine for failing to prevent one of the largest global corruption scandals, causing a hit to profits for the big…
The group has since strengthened and enhanced its processes to meet the current stringent regulatory standards, the bank said in a statement.
As part of the global settlement, we will continue as we have for the past five years, to strengthen our fundamentals, particularly in terms of corporate governance by continuing to improve our systems and processes to strengthen due diligence.
AMMB said it would not need to raise capital to pay the fine, but no dividend would be paid to shareholders as the…
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