Australia and New Zealand Banking Group
(ASX:ANZ) has announced a 22 per cent dive in half year net profit and cut its dividend.
The bank said it has taken $717 million in charges which will reposition the group for profit growth into the future.
The interim dividend of 80 cents is 7 per cent lower than last year with a forecast final dividend of at least 80 cents per share.
CEO Shayne Elliot says the bank has moved decisively to build a better capitalised and more balanced bank.
