ANZ Bank announces A$2bn share buyback amid lower cash earnings and 7% decline in first-half cash profit.
ANZ Bank announced a A$2bn ($1.3bn) share buyback amidst lower cash earnings, with a 7% decline in first-half cash profit to A$3.55bn. The Melbourne-based lender's retail division profit fell 25% due to intense competition in Australia's mortgage lending market and higher operating expenses. ANZ's interim dividend was raised to A$0.83 a share, and the bank is expecting its Common Equity Tier 1 capital ratio to decrease by around 46 basis points.
May 06, 2024
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