logo
Plus   Neg
Share
Email

Australia And New Zealand Banking FY Profit Down 40%

Australia And New Zealand Banking Group Ltd.(ANZ.AX,ANZBY.PK,ANZ) announced statutory profit after tax for the full year ended 30 September 2020 of A$3.58 billion, down 40% on the prior comparable period.

Cash profit for its continuing operations was A$3.76 billion, down 42% on the prior comparable period.

The decrease was primarily driven by full year credit impairment charges of A$2.74 billion, which increased from prior year due to the impact of COVID-19 and a first half impairment of Asian associates of A$815 million, also related to the pandemic.

ANZ Chief Executive Shayne Elliott said,"We could never have forecast 2020, a year that started with devastating bushfires in Australia and unwound with the waves of a pandemic that continues today. While we still cannot predict its course, we remain confident we can deal with its impacts."

The company announced a proposed 2020 final dividend of 35 cents per share which will be paid to shareholders on Wednesday, 16 December 2020.

The Dividend Reinvestment Plan and Bonus Option Plan will continue to operate in respect of the 2020 final dividend without a discount, the company said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Rapala USA has recalled about 128,000 units of Rechargeable Fillet Knives due to fire hazard, according to the U.S. Consumer Product Safety Commission. The recall involves the Rapala Rechargeable Fillet Knife with item number RRFN. The knife handles are black and gray, and the Rapala logo is printed in red on the handle, along with the word ION in white. Facebook said it has launched an improved version of its automatic alternative text or AAT feature to improve photo descriptions for its users who are blind or visually impaired. AAT utilizes object recognition to generate descriptions of photos on demand so that blind or visually impaired, or BVI individuals, can more fully enjoy their News Feed. Morgan Stanley (MS) reported Wednesday a profit for the fourth-quarter that climbed 57 percent from last year, reflecting strong performance across all three business segments. Both earnings per share and quarterly revenue beat analysts' estimates.
Follow RTT