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ANZ warns of $817m hit to profit ahead of interim results – NEWS.com.au
ANZ warns of $817m hit to profit ahead of interim results
ANZ has revealed impairment expenses are going to hit its bottom line by close to $1bn.In a statement on Friday, the major bank flagged four notable items would dent its interim cash profit, which is expected to be released on Wednesday next week.
The total cost mostly from writedowns in the value of goodwill in some of its investments will be approximately $817m after tax. ANZ said the impairments overall would have a five basis point impact on its common equity tier 1 ratio (CET1).
CET1 is a primary…
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