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
Woolworths supermarket logo over a store

Woolworths: We’re already taking steps to boost price transparency

Woolworths Group Ltd has responded to a review from the ACCC on pricing transparency, saying it…
Stacked gold bars

Mt Malcolm finds economic gold averaging 3g/t at Golden Crown stockpile

Mt Malcolm Mines NL has found economic grades averaging three grams per tonne from stockpiles at…
The Market Online Video

ASX Market Open: Oz bourse follows best day in six weeks with slight Friday pullback | March 21, 2025

Following a Thursday that ranked as the best ASX trading day in six weeks, Australian shares are now being tipped to sag 0.
Red rocks in the Northern Territory

Patronus boosts NT exposure with $5.4M Emmerson strategic investment

Patronus Resources Ltd has acquired a 7.73% shareholding in Emmerson Resources Ltd, citing corporate activity in…