ANZ has revealed that its second-half results for 2024 will be impacted by one-off acquisition related accounting adjustments from its acquisition of Suncorp Bank.
The bank expects a net after-tax charge of $196 million, which will also result in a reduction of about 2 basis points to ANZ's Level 2 Common Equity Tier 1 capital.
The charge is primarily composed of an accelerated software amortisation charge of $36m and a collectively assessed credit impairment charge of $244m.
ANZ clarified that these adjustments had no impact on the assessed value of the acquired Suncorp Bank business or the purchase price paid.
In the full-year 2024 result, Suncorp Bank will be presented as a separate division.
ANZ Group's second-half 2024 results will be announced on November 8, 2024.
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