The ANZ logo on a huge sign atop an Adelaide building.
Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

The ANZ Banking Group (ASX:ANZ) has flagged a A$196 million after-tax charge that will impact its second-half profits in 2024 off the back of accounting-related adjustments from its Suncorp Bank (ASX:SUN) acquisition.

The $196 million fee will be split between $25 million for accelerated software amortisation and a $171 million collectively assessed credit impairment charge.

This after-tax charge will see a 2 basis point reduction to ANZ’s level 2 common equity tier 1 capital in its second half results, the group said today.

The $196 million hit is expected to be a one-off for the lender.

ANZ also confirmed the adjustments that led to the charge “had no impact on the assessed value of the acquired Suncorp Bank business nor the purchase price paid.”

The Melbourne-based lender, which makes up one-quarter of Australia’s ‘Big Four Banks,’ put a bow on its $4.9 billion Suncorp Bank buy earlier this year. The Federal Treasurer went over everything for nearly two years before approving the major acquisition of the Queensland insurer’s banking business.

Investors now wait to see how this reported $196 million hit impacts ANZ’s full-year results once shared on November 8. Suncorp will present as a separate division.

ANZ last traded at $31.71 today, while Suncorp has been at $18.04.

Join the discussion. See what HotCopper users are saying about ANZ and be part of the conversations that move the markets.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.

ANZ by the numbers
More From The Market Online
The words "Market Open" appear stacked atop one another next to ASX company iconography.

ASX Market Open: Oz shares to teeter just over 8,000 as Albo vs Dutton campaign begins | March 28, 2025

Australian shares are expected to open very nearly flat today, losing less than 0.1% according to ASX 200 futures – though things coul…
The words "Market Open" appear stacked atop one another next to ASX company iconography.

ASX Market Open: And just like that, Trump’s auto tariffs are back causing market chaos | March 27, 2025

What had been shaping into a solid little Week 13 for the ASX 200 has been pipped at the post heading into Thursday
The Market Online Video

ASX Market Close: Reject Shop rockets ~ 110% after Canadian offer | March 27, 2025

The ASX200 closed down 0.38% at 7,969 points.
The Market Online Video

Thursday’s HotCopper Trends: Mesoblast bags FDA tick, Hot Chili extends mine life | March 27, 2025

The ASX has been down 0.55% at 7,956 points on Thursday so far.