The valuation of investments in Asian associates was impaired by $815 million, largely due to the impact COVID-19 is having in those markets. © Copyright 2020 Morningstar, Inc. All rights reserved. (RTTNews) - Australia And New Zealand Banking Group Ltd.(ANZ.AX, ANZBY.PK, ANZ) said that its board proposed an interim dividend of 0.25 … ANZ Chairman David Gonski said: “This decision is not about our current financial position and ANZ has not received any concerns from APRA regarding our level of capital. This move to a new way of working was completed by 17 March, including our offshore delivery centres, and was supported by recent investments in technology and agile work practices. “While dealing with the immediacy of the current crisis as well as protecting our customers and staff remains our top priority, we are not sitting idle waiting for changes to happen to us. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. The individually assessed provision charge of $626 million, increased $228 million compared to 2H19. Granted 1,345 temporary overdraft facilities to businesses needing more working capital, worth nearly NZ$25 million; received ~820 requests regarding the Business Finance Guarantee Scheme. © All rights reserved. (RTTNews) - Australia And New Zealand Banking Group Ltd.(ANZ.AX, ANZBY.PK, ANZ) said that its board proposed an interim dividend of 0.25 Australian cents per … While final assessments will be made as part of the Full Year results, variable remuneration is expected to be materially reduced given the impact COVID-19 has had on shareholders and focused primarily on rewarding those such as branch and call centre staff who have been working hard to provide essential services to customers. ANZ was the first major bank to defer its dividend on April 30, when it took a $1 billion COVID-19 impairment charge leading to a 60 per cent fall in interim cash profit. Bhd. In assessing options, ANZ considered the high level of uncertainty in the economic outlook as well as guidance from the Australian Prudential Regulation Authority (APRA) that all Authorised Deposit Taking Institutions and Insurers should seriously consider deferring decisions on dividends until the outlook is clearer. Received ~105,000 requests for assistance on $36 billion worth of home loans. ANZ’s Board also determined it will defer its decision on the 2020 Interim Dividend until there is greater clarity regarding the economic impact of COVID-19. “This was a very difficult decision and the Board considered all options available as we understand the impact this will have on those shareholders who rely on dividends,” Mr Gonski said. “This is a terrible time for many and I want our customers, employees and shareholders to know we enter this crisis in very good shape to support our communities given the work completed over the past four years to simplify our business and strengthen our balance sheet. This was achieved with 100% of staff in operations hubs and 85% of global operations teams working from home. New Zealand imputation credits of … Deferred 19,600 home loan repayments and moved 20,900 to interest only. This unparalleled level of customer support is ultimately in the long-term interests of all stakeholders, including investors. Commenting on the outlook Mr Elliott said: “The coming months will be difficult. As part of its regular engagement with APRA, ANZ has also had ongoing discussions regarding both its capital position and various stress testing scenarios. “However, the swift action from Governments in Australia and New Zealand, as well as the healthy state of corporate balance sheets going into the crisis, has both countries well placed to not only manage the health aspects but also lessen the economic impact. We maintained our focus on productivity and continued to target balance sheet growth in our preferred segments. Something goes wrong, please refresh and try again. Aug 19 (Reuters) - Australia and New Zealand Banking Group Ltd ANZ.AX said on Wednesday it would pay an interim dividend to its shareholders, following a build-up … All financials are on a Cash Profit Continuing Basis with growth rates compared to the Half Year ended 31 March 2019 unless otherwise stated. Cash Profit for its continuing operations was $1.41 billion, down 60% from the prior comparable period. The Australian Prudential Regulation Authority in July advised that banks no longer needed to pause dividends, which was a softer stance than its April request that boards "seriously consider" suspending payments because of the pandemic. Announcement of Interim Results. 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