Will ANZ decide more provisions are better?

Wed, 29 Apr 2020

ANZ Bank's Australian parent is likely to unveil sizeable provisions for losses due to the coronavirus crisis when it reports its first-half results tomorrow. Analyst and market reactions to provisions already announced by Westpac and National Australia Bank suggest more is better. Westpac yesterday announced A$2.24 billion of total charges against profit for bad debts, of which A$1.6 billion was against the fallout from the crisis, about double the A$807 million NAB announced on Monday. "Call that a provision, this is a provision!" w...

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