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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 launches digital lending platform for small business

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08/26/2020 | 06:11pm EDT

Developed in partnership with DemystData, ANZ Online Business Lending syncs with Accounting Software Platforms (ASPs) Xero, QuickBooks and MYOB.

Businesses connect their ASPs to the bank's credit platform to share historical financial information, allowing ANZ to provide a decision on conditional lending in less than 20 minutes and full approval within two days.

ANZ Group Executive Australia Retail and Commercial Banking Mark Hand said: 'While the current economic crisis will be devastating for some businesses, there has also been a great deal of resilience and some will be able to come out the other side even stronger. We're also starting to see new businesses being created to meet emerging customer needs.

'This sophisticated new technology is deeply integrated with ANZ's existing platforms to provide our customers with a quick, simple and secure lending experience so they can spend more time running and growing their business,' Mr Hand said.

Customers using ANZ's online business lending application will have access to fixed and variable-term loans as well as overdraft facilities.

Also in July ANZ provided an update for businesses still needing to access support packages. Since the original program was announced in March, ANZ has provided repayment deferrals on more than 100,000 home, personal, small business and commercial accounts.

Small businesses will also be able to use the new digital lending platform to borrow under Phase 2 of the Government Guarantee Scheme.

More information on COVID-19 support packages, including dedicated telephone numbers, can be found at our COVID-19 site on anz.com.

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Disclaimer

ANZ - Australia & New Zealand Banking Group Ltd. published this content on 27 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2020 22:11:08 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