Business
ANZ flags $817m hit, puts share trading arm up for sale – Sydney Morning Herald
Investors have shrugged off news ANZ Bank’s profits will take a $817 million hit at its half-year results next week.
Investors have shrugged off news ANZ Banks profits will take a $817 million hit, due mainly to write-downs on the value of a share-trading business and fallout from a scandal in a partly-owned Malaysian bank.
Ahead of highly-anticipated half-year results from three major banks next week, ANZ on Friday revealed its cash earnings would be dragged down by a batch of fresh write-downs and charges totalling $605 million.
ANZs first-half cash profit will take a $817m hit.Credit:Sam Mooy
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