ANZ grapples with New Zealand capital question

Thu, 31 Oct 2019

Australia & New Zealand Banking Group has the vexed New Zealand question top of mind, with the capital proposals of trans-Tasman regulators a particular focus for the lender. Its New Zealand net profit fell 8 percent to $1.83 billion in the 12 months ended Sept. 30, as fair value movements on financial instruments and insurance policies, and year-earlier gains on asset sales pushed the bottom line around. Cash earnings from continuing operations fell 4 percent to $1.53 billion, as New Zealand's biggest bank lifted its provisioning...

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