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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 LIMITED

(ANZ)
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Australia and New Zealand Banking : ANZ completes sale of UDC Finance to Shinsei Bank

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08/31/2020 | 07:39pm EDT

News Release

For Release: 1 September 2020

ANZ completes sale of UDC Finance to Shinsei Bank

ANZ today announced it has successfully completed the sale of its asset finance business in New Zealand, UDC Finance, to Shinsei Bank Limited (Shinsei Bank).

The sale, originally announced in June 2020, followed a strategic review by ANZ Bank New Zealand and is in line with ANZ's strategy to simplify its business.

The transaction, which provides ~10bps of Level 2 Group CET1 capital1, will further strengthen ANZ New Zealand's balance sheet position.

For media enquiries contact:

Brett Foley, 0466 670 880

Approved for distribution by ANZ's Continuous Disclosure Committee

1 CET1 impact post-RBNZ capital changes is ~15pts. The profit and loss impact of the sale of UDC will be included in ANZ's Cash Profit and highlighted as a Large / Notable item. UDC transaction and financial summary was provided in ANZ's news release of 2 June, 2020

Australia and New Zealand Banking Group Limited 9/833 Collins Street Docklands Victoria 3008 Australia ABN 11 005 357 522

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

ANZ - Australia & New Zealand Banking Group Ltd. published this content on 01 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 August 2020 23:39:01 UTC


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Financials
Sales 2020 17 997 M 12 845 M 12 845 M
Net income 2020 3 809 M 2 718 M 2 718 M
Net Debt 2020 - - -
P/E ratio 2020 14,5x
Yield 2020 3,17%
Capitalization 56 083 M 39 886 M 40 027 M
Capi. / Sales 2020 3,12x
Capi. / Sales 2021 3,11x
Nbr of Employees 37 834
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 21,13 AUD
Last Close Price 19,78 AUD
Spread / Highest target 32,5%
Spread / Average Target 6,83%
Spread / Lowest Target -39,8%
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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