ANZ has disclosed it will book charges totalling $360 million against its full-year after-tax profit, a week ahead of releasing its annual results.
The bank said its financial results will include a $168 million charge against revenue of its institutional markets business, after it changed the method of valuing derivative instruments.
It will take another $100 million hit because of restructuring charges, related to the evolution of the group’s strategy. It will outline more details related to this charge in its results.
ANZ said the remaining charges relate to the second-half impact of changes in its software capitalisation policy, and adjustments related to the divestment of the Esanda dealer finance business.
ANZ, Australi…
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