ANZ Banking Credit Risk Weighted Assets Up 1.7%

Australia and New Zealand Banking Group Limited or ANZ (ANZ.AX,ANZBY.PK,ANZ) reported that total Credit Risk Weighted Assets or CRWA increased A$6.1 billion or 1.7% from Sep 2019 to A$364.2 billion at December 2019. The increase is driven by lending growth in the Corporate asset class in the Institutional business across both Advanced IRB and exposures receiving Standardised treatment.

CRWA on Other assets increased A$1.3 billion mainly due to recognition of on balance sheet of right of use lease assets following implementation of IFRS 16 Leases on 1 October 2019.

Traded Market Risk RWA increased A$0.4 billion or 7.9% over the quarter due to increase in Stress VaR. IRRBB RWA Increased due to a deterioration in embedded gains and an increase in Repricing and Yield Curve risk.

The total provision charge of A$116 million for the first-quarter of 2020 was A$40 million lower than for the same quarter last year. The total provision charge decreased A$77 million compared to the preceding quarter driven by a reduction in collective provision charge including from an improved delinquency profile in the Australian mortgage portfolio in the first-quarter of 2020.

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