ANZ (ASX:ANZ) report cash profit down 42%

Company News

by Rachael Jones

ANZ (ASX:ANZ) today announced their Cash Profit for its continuing operations was $3.76 billion, down 42 per cent for the Full Year ending 30 September 2020.

Statutory Profit after tax for the Full Year is $3.58 billion, down 40 per cent on the prior comparable period.

This decrease was largely due to Full Year credit impairment charges of $2.74 billion, which increased from prior year due to the impact of Covid-19 and a first half impairment of Asian associates of $815 million, also related to the pandemic.

The proposed Final Dividend is 35 cents per share, fully franked.

Shares in ANZ (ASX:ANZ) are trading 3.2 per cent lower at $18.54.