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AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

(ANZ)
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Australia and New Zealand Banking : ANZ Share Investing customers to transition to CMC Markets platform

09/16/2021 | 02:02am EDT

The agreement is in line with ANZ's strategy to simplify the bank and customers will begin to see CMC Markets branding on the platform over the next 12 to 18 months.

CMC Markets has provided a share trading solution under the ANZ Share Investing brand since 2018. At the end of the transition period ANZ will no longer receive revenue from share investing activities.

ANZ will continue to manage and provide cash management solutions to share investing customers.

In April, ANZ stated in its first half financial disclosures that the share investing business had been reclassified as held-for-sale[1]. The revenue ANZ receives from share investing activities is not material.

Approved for distribution by ANZ's Continuous Disclosure Committee

[1] As a result of the reclassification, in the half year ended 31 March 2021 ANZ recognised a loss after tax of $251 million relating to the write-down of goodwill attributable to the business. This had no impact to Common Equity Tier 1 (CET1) capital as it resulted in an equivalent reduction in capital deductions.

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ANZ - Australia & New Zealand Banking Group Ltd. published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 06:01:01 UTC.


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Financials
Sales 2021 17 363 M 12 960 M 12 960 M
Net income 2021 6 130 M 4 575 M 4 575 M
Net Debt 2021 - - -
P/E ratio 2021 13,6x
Yield 2021 4,94%
Capitalization 78 757 M 58 844 M 58 784 M
Capi. / Sales 2021 4,54x
Capi. / Sales 2022 4,35x
Nbr of Employees 37 844
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 28,21 AUD
Average target price 29,70 AUD
Spread / Average Target 5,28%
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Managers and Directors
Shayne Cary Elliott Chief Executive Officer & Executive Director
Farhan Faruqui Chief Financial Officer
Paul Dominic O'Sullivan Chairman
Gerard Florian Group Executive-Technology
Michael Liarakos Chief Compliance Officer