ANZ says provisions seen rising to A$1.2 bln in H2 (Reuters)

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.

ANZ promises to pass on any RBA rate cut

ANZ Banking Group Ltd has pledged to pass in full to its home loan customers any rate cut the Reserve Bank of Australia decides at its next board meeting.

ANZ says provisions seen at A$1.2 bln in H2 (Reuters)

Reuters - Australia and New Zealand Banking Group , Australia's third-biggest lender, said on Monday it was likely to book provisions of around A$1.2 billion ($1.1 billion) in its second half due to the ongoing deterioration in global credit markets.

ANZ stock savaged after $1.2b hit

ANZ BANK'S annual profit is set fall by as much as $800 million to $3.1 billion after the company warned its second-half results would be hit by increased bad debts and soured loans.

Analyst urges banks to raise rates

Australia's top four banks could lose a combined $500 million if they don't again raise their standard variable home loan rates, says investment bank JP Morgan.

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.