ANZ hints at possible write-back of covid-19 provisions

Wed, 16 Dec 2020

ANZ Bank is hinting that it may be able to write back some of the A$1.7 billion in provisions made against potential future losses as a result of the covid-19 pandemic.Chair Paul O'Sullivan told the annual shareholders' meeting that the bank still sees a lot of uncertainty ahead and will update shareholders on potential covid-19-related losses at a later date.O'Sullivan said the bank considered modelling of a range of different scenarios before arriving at the A$1.7 billion provision for potential future pandemic-related losses it m...

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