ANZ says provisions seen rising to A$1.2 bln in H2 (Reuters)
July 28, 2008
Reuters - ANZ bank , Australia's
third-biggest lender, issued a profit warning on Monday,
forecasting more than $1 billion in bad debt charges, as the
global credit crisis started to hurt the country's previously
buoyant banks.
Another pile-up as bad lending practices exposed
Mr Smith, what a mess. The ANZ Banking Group has taken a commanding lead in the race for line honours to determine the bank most likely to end the decade in disgrace.
Safe as houses: ANZ wins the tick it craves so badly
ANZ Bank was yesterday given a much-needed vote of confidence by two of the major credit agencies, after they maintained its all-important double-A rating in the wake of the bank's decision to provide an additional $1.2 billion for its bad-debt cover.
ANZ Bank pipped in Hong Kong bank bid
China Merchants Bank pips ANZ Bank as the preferred bidder for Hong Kong's Wing Lung Bank.
05/23/08
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Gunns shares drop on ANZ pullout reports
Gunns' shares have fallen sharply in early trade on the back of reports the ANZ Bank will not fund the controversial $2 billion Tasmanian pulp mill.
War of words over Opes will leave...
Reputations are going down with a very leaky ship, writes Colin Kruger.
Westpac ups its rate
Westpac raised its lending rates by 0.10 percentage points today, following the lead of ANZ Bank and NAB.
04/28/08
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ANZ makes Opes offer
ANZ Bank offers Opes Prime's administrators a 62-cents-in-the dollar settlement.
ANZ shares plunge 9%
Investors have hammered ANZ Bank after it flagged $1.2 billion in bad debt provisions for the 2008 second half.
ANZ sacks two after Opes Prime review
A review of ANZ Banking Group's securities lending operations has found risk controls were inadequate in the period leading up to the Opes Prime crisis.
No deal: ANZ takes bailout off table
THE future of the specialised financial services provider Chimaera Capital was again called into question last night after the ANZ Bank walked away from a deal to invest $55 million in the company.
Gloomy outlook for commodities
Commodities prices may drop faster next year, pressured by slumping global demand and a strengthening US dollar, according to ANZ Bank.
08/20/08
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Primebrokers appoints administrators
CHRIS ZAPPONE Primebrokers Securities, a firm linked to the margin loan-hit Chimaera Capital, has entered voluntary administration.
Legal action not over on Opes share sale
More companies are foreshadowing legal action in relation to the Opes Prime collapse and the ANZ Banking Group sell-down of shares.
Opes investors lose sale halt bid
A group of investors in failed brokerage Opes Prime have failed in their legal bid to halt the sale of their share portfolio by the ANZ Bank.
Westpac cash profit expected to rise
Westpac Banking Corporation is expected to sidestep the bad debt troubles faced by the ANZ Bank and report a healthy rise in first-half cash profit.
Lofty ambition royally thwarted
MIKE SMITH'S first year in charge of ANZ Bank is turning into what a slightly more regal English figure once termed an "annus horribilis".
Beconwood skirts costs in Opes stoush
Beconwood Securities will not have to pay costs from its first legal stoush against collapsed stockbroker Opes Prime and ANZ Banking Group, even though it lost.
Investors await surprises in Westpac earnings
Investors will be watching for surprises when Westpac releases its half year results, a week after ANZ Bank revealed nearly $1 billion in provisions against potential losses.
ANZ tips profit rise of eight per cent
ANZ Banking Group has forecast its 2008 annual profit before provisions to rise by around eight per cent and its annual cash profit to exceed $3 billion.
ANZ, Visa launch new transaction card
ANZ Banking Group Ltd and card provider Visa have launched a new transaction card that can make small payments without the need for a PIN or signature.
ANZ, Visa launch wave-to-pay card
ANZ Banking Group Ltd and card provider Visa have launched a new transaction card that can make small payments without the need for a personal identification number or signature.
ANZ may not pass on interest rate cuts
The ANZ Banking Group Ltd has admitted there is no certainty it will pass on in full any interest rate cut made by the Reserve Bank of Australia.
ANZ cuts fixed home loan rates
ANZ Banking Group has cut its fixed mortgage interest rates by up to half a percentage point.
ANZ cuts loose another stock lender
ANZ Banking Group has cut loose another stock lender, sending in the receivers to Primebroker Securities, part of the Chimaera Financial Group.