Australia and New Zealand Banking Group
(ASX:ANZ) has advised total group credit charge is likely to be at least $100 million more than the $800 million previously forecast.
The update follows a consideration of a number of Australian and multi-national resources related exposures.
Acting CFO Graham Hodges said that although the overall credit environment remains broadly stable, the lender is continuing to see pockets of weakness associated with low commodity prices in the resources sector and in related industries.
Mr Hodges said this is a challenging part of the cycle for these customers with implications for the banking sector as individual circumstances evolve.
ANZ reported a net profit of $7.51 billion at 31 September 2015.
