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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Australia and New Zealand Banking Group Limited    ANZ   AU000000ANZ3

AUSTRALIA AND NEW ZEALAND BANKING GROUP

(ANZ)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 07/09
18.49 AUD   +0.43%
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APRA Preparing for Potential Fallout When Government Relief Measures End

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05/28/2020 | 01:14am EDT

By Alice Uribe

SYDNEY--Australia's prudential regulator said the strength of bank balance sheets was a big issue on its agenda, as it prepares for potential fallout from the end of the government unemployment support in September and the conclusion of loan moratoriums.

Australian Prudential Regulation Authority Chairman Wayne Byres said Thursday that while the banking sector, along with regulators and government, had put in a holding strategy to provide "six months of breathing space," risks still remained.

"We can't keep pretending that everything is in good shape if there are customers who are clearly not going to be able to repay their loans," Mr. Byres told the Senate Select Committee on Covid-19.

"There are often references to 'the clip' when everything ends in six months' time," he added. "No one has an interest in coming off 'the clip,' so we have to work out what the next phase is going to be and that will be dependent on the economic situation at the time."

Australia & New Zealand Banking Group Ltd. has already signaled more assistance could be needed. ANZ Chief Executive Shayne Elliott said late last month that a reasonable number of home-loan customers who have deferred more than 104,000 mortgage accounts during the pandemic would need help beyond October.

"Some will require further assistance, perhaps an extension of the deferral, perhaps partial repayments...perhaps even some sort of hardship or a lower rate," Mr. Elliott said.

Bendigo and Adelaide Bank Ltd on Thursday said it had set aside 148.3 million Australian dollars (US$98.2 million) for possible future impacts of the coronavirus pandemic.

Lenders including Westpac Banking Corp. said provisions for expected credit losses include A$1.6 billion set aside for the coronavirus impact. National Australia Bank Ltd. has made an A$807 million provision, while Australia & New Zealand Banking Group Ltd. is estimating A$1 billion of credit losses tied to Covid-19.

Mr. Byres said there were almost A$250 billion in deferred loans, two-thirds of which were mortgages, but noted that the regulator did not want to "put pressure on a large group of customers just at the wrong point in the cycle."

He said there were system dangers whether the loan deferral scheme ended or not.

"Bank balance sheets are highly correlated to the economic environment. The risks are definitely there because clearly we are in a very difficult economic environment. Banks are really just the arteries by which the economies operate," Mr. Byres said.

"So when the economic environment is difficult, bank balance sheets are under pressure, there is no doubt that risk in the financial system is rising, there is no doubt about that, and we need to work carefully over the longer term, to make sure the system stays safe and stable."

 

Write to Alice Uribe at alice.uribe@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -7.50% 5.8 Delayed Quote.14.00%
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED 0.43% 18.49 End-of-day quote.-24.93%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.31% 0.6961 Delayed Quote.-1.04%
BANK OF QUEENSLAND LIMITED -0.32% 6.15 End-of-day quote.-15.17%
BENDIGO AND ADELAIDE BANK LIMITED 0.58% 6.9 End-of-day quote.-29.45%
COMMONWEALTH BANK OF AUSTRALIA -0.20% 70.42 End-of-day quote.-11.86%
JUST GROUP PLC 0.38% 47.98 Delayed Quote.-39.49%
LINE CORPORATION 0.91% 5530 End-of-day quote.3.36%
NATIONAL AUSTRALIA BANK LIMITED 0.44% 18.06 End-of-day quote.-26.67%
WESTPAC BANKING CORPORATION 0.39% 17.91 End-of-day quote.-26.08%
WILL GROUP, INC. -2.16% 634 End-of-day quote.-49.36%
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Financials
Sales 2020 18 103 M 12 608 M 12 608 M
Net income 2020 3 700 M 2 577 M 2 577 M
Net Debt 2020 - - -
P/E ratio 2020 14,4x
Yield 2020 2,38%
Capitalization 52 348 M 36 431 M 36 457 M
EV / Sales 2019
Capi. / Sales 2020 2,89x
Nbr of Employees 37 834
Free-Float 99,7%
Chart AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
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Australia and New Zealand Banking Group Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends AUSTRALIA AND NEW ZEALAND
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 20,88 AUD
Last Close Price 18,49 AUD
Spread / Highest target 35,2%
Spread / Average Target 12,9%
Spread / Lowest Target -32,8%
EPS Revisions
Managers
NameTitle
Shayne Cary Elliott Chief Executive Officer & Executive Director
David M. Gonski Chairman
Michelle Jablko Chief Financial Officer
Gerard Florian Group Executive-Technology
Paula Jane Dwyer Independent Non-Executive Director