ANZ.AX - Australia and New Zealand Banking Group Limited

ASX - ASX Delayed Price. Currency in AUD
18.81
+0.87 (+4.85%)
As of 2:54PM AEST. Market open.
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close17.94
Open18.71
Bid18.77 x 0
Ask18.78 x 0
Day's Range18.51 - 19.25
52 Week Range14.10 - 28.95
Volume13,819,077
Avg. Volume12,144,831
Market Cap53.349B
Beta (5Y Monthly)0.92
PE Ratio (TTM)12.92
EPS (TTM)1.46
Earnings DateApr 30, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateNov 11, 2019
1y Target Est28.83
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • Dollar weakens as investors' risk appetite ramps up
      Reuters

      Dollar weakens as investors' risk appetite ramps up

      The U.S. dollar fell across the board on Tuesday as optimism about a potential coronavirus vaccine and a reopening world economy helped investors shrug off U.S.-China tensions, sapping demand for safe-haven assets. The U.S. Dollar Currency Index <=USD>, which measures the greenback's strength against six other major currencies, traded down 0.75% at 98.99, after slipping as low as 98.891, its weakest since May 1. The S&P 500 index <.SPX> briefly rose above the 3,000 level for the first time since March 5, as U.S. biotech corporation Novavax Inc <NVAX.O> became the latest company to join the race to test coronavirus vaccine candidates on humans and enrolled its first participants.

    • Bloomberg

      Why I’m Nervous About the End of Lockdown

      (Bloomberg Opinion) -- Is this what normal life looks like?Somehow, my home country of Australia has managed to avoid the worst ravages of the coronavirus. Fewer than 100 people have died, and it’s now been a month since more than 50 cases were reported on any one day. More than a million tests have been conducted — in a population of about 25.7 million — and less than one in a hundred of those have shown an infection. Local transmission has been slight, with more than 60% of cases acquired overseas. Across the country, just 12 people are now in intensive care with Covid-19.Life is gradually returning to some semblance of what it once was. My children have been attending school one day a week and they’ll be back full-time Monday. We’ve been round to several friends’ houses, and over the weekend I cycled with my family to the shores of Sydney Harbour. The hundreds that we passed were doing a decent job of keeping their distance, but I’d be lying if I said we never came within the regulation 1.5 meters of anyone. After eight weeks of caution, you could see people start to magnetize into each other’s physical spaces. I should be feeling happy that my country seems to be emerging from the shadow of a pandemic without the terrible toll of death and disease paid elsewhere. In truth I have a sense of creeping dread. I find it hard to believe we won’t be looking back at this moment in two months, wondering how none of us saw what was coming. It’s impossible to know whether Australia has so far escaped the virus from skill or luck, but it’s hard to argue we did everything right. The day after the World Health Organization finally declared a pandemic in mid-March, Prime Minister Scott Morrison was still boasting about how he was planning to see his favorite rugby league team at Sydney’s 83,500-capacity ANZ Stadium. About one in 10 cases here stem from the moment the following week when Carnival Corp.’s Ruby Princess was allowed to disembark more than 400 sick passengers in the middle of the city. State and federal governments are still arguing about who was responsible for failing to enforce quarantine.That mirrors the sense of randomness experienced around the world, as my colleague Joe Nocera has written. Some places, like Lombardy, New York and the U.K., have seen devastating, society-straining outbreaks. Others in superficially similar circumstances, like Campania, Florida and Germany, have been spared the worst. Despite more than 23,000 scientific papers written on Covid-19, the breadth of what we don’t know is astonishing. It’s still unclear how much the virus is able to spread through the air; which types of surfaces it can best survive on, and for how long; what role children play in transmitting the disease; how long those who’ve been infected retain immunity; and even how many have been infected.Knowledge isn’t a prophylactic on its own. Robert Koch revolutionized our understanding of infection when he identified the causative agent of tuberculosis in 1882, but his attempts to develop a vaccine were an ignominious failure. The bacterium still kills more than a million people a year.That means Australia may be no better placed to handle a resurgence of infections than the northern hemisphere countries that failed to learn lessons from China.We’ve long been aware that pandemics spread in waves, with the subsequent outbreaks often far worse than the initial surge of infections. About 108 million people are under renewed lockdowns in China’s three northeastern provinces, while initial success in containing the disease has given way to fresh outbreaks in Singapore and South Korea. The impossibility of maintaining a heightened state of vigilance in the long term may be one of the greatest risks ahead of us, as my colleague Clara Ferreira Marques has written.The role of heat and humidity — a subject of particularly passionate debate — is probably what worries me most, living in one of the southern hemisphere's few temperate countries. Of the 17 nations with more than 50,000 confirmed cases, only Brazil and India have been outside the temperate, arid and high-altitude zones that a climate-based model would suggest are most likely to encourage infection. For much of the world, where spring is gradually turning to summer, seasonal variation in Covid-19’s reproduction rate would offer the prospect of a welcome slowdown in the coming months. Here in Australia, though, a mild fall is now giving way to the first bite of winter. As I step into the cool afternoon air onto a main street that’s as busy as I’ve seen it in months, that’s not a comforting thought.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Thomson Reuters StreetEvents

      Edited Transcript of ANZ.AX earnings conference call or presentation 30-Apr-20 12:00am GMT

      Half Year 2020 Australia and New Zealand Banking Group Ltd Earnings Call

    • RBNZ Unleashes More Stimulus as Economy Slumps on Lockdown
      Bloomberg

      RBNZ Unleashes More Stimulus as Economy Slumps on Lockdown

      (Bloomberg) -- New Zealand’s central bank almost doubled its quantitative easing program and said it is open to cutting interest rates further, including taking them negative, as it attempts to cushion the economic impact of the coronavirus pandemic.The Reserve Bank increased its bond-purchase program to NZ$60 billion ($36 billion) from NZ$33 billion and said it is prepared to use additional monetary policy tools if needed, such as reducing the official cash rate from 0.25%. It could also add other types of assets to its Large Scale Asset Purchase program and provide fixed-term loans to banks, the RBNZ said Wednesday in Wellington.“The Monetary Policy Committee remains prepared to do whatever it takes to ensure that we have significant monetary stimulus in the economy,” Governor Adrian Orr told a news conference. “The balance of economic risks remains to the downside.”New Zealand’s economy is expected to experience a record slump this quarter after the government enforced one of the strictest lockdowns in the world to curb the spread of Covid-19. While the country will begin to exit the lockdown tomorrow, unemployment is projected to surge and the economy may take years to recover, necessitating unprecedented fiscal and monetary support.“Risks are skewed towards QE being expanded in time, and we would not rule out OCR cuts into negative territory next year,” said Sharon Zollner, chief economist at ANZ Bank New Zealand in Auckland. “Negative rates are a risky proposition in the New Zealand context, but keeping open the threat of them will help dampen short interest rates in the meantime, maximizing monetary stimulus.”The New Zealand dollar fell after the announcement. It bought 60.11 U.S. cents at 4:50 p.m. in Wellington, down from 60.98 cents beforehand.The RBNZ reaffirmed its intention to keep the OCR unchanged until early next year. Its new projections today show the OCR remaining at 0.25% through the first quarter of 2021, with no further forecasts beyond that point.Negative RateIn its record of meeting, the Monetary Policy Committee said that a negative OCR “will become an option in future, although at present financial institutions are not yet operationally ready.” The RBNZ has written to banks requesting their systems be ready for a negative OCR by the end of the year.Orr said he wants to see banks lower borrowing costs for consumers and businesses. The expansion to the LSAP program “aims to continue to reduce the cost of borrowing quickly and sharply,” he said.The economy contracted 2.4% in the first quarter and will slump 21.8% in the second, according to the RBNZ’s new projections, sending it into recession for the first time since 2010. However, growth will surge 23.8% in third quarter as activity rebounds with the easing of restrictions. The economy will shrink 1.4% in the year through March 2021, the forecasts show.The annual inflation rate is projected to dip below zero early next year, reflecting lower fuel prices and the recession, and will likely stay below the bottom of the RBNZ’s 1-3% target band until mid-2022.The jobless rate will peak at 9% in the third quarter this year while house prices are projected to fall 9% over the remainder of 2020, the RBNZ said.“Activity has fallen sharply as a result of the pandemic and containment measures,” RBNZ policy makers said. “The sharp contraction in activity is expected to reduce inflation and employment below the bank’s objectives for several years.”Bond IssuanceThe government will unveil additional crisis measures in its May 14 budget that are expected to require massive bond issuance. The central bank is committing to soak up much of that additional supply on the secondary market in order to keep a lid on bond yields.The committee agreed that an expansion to the LSAP program was the most effective way to deliver further stimulus at this time. It added inflation-indexed government bonds to the securities it is prepared to buy and said it was ready to add other classes such as foreign assets if required. The bond program is capped at 50% of the nominal bond market, according to a letter of indemnity to the RBNZ from the government.“The committee noted that the size of the LSAP program needed to be sufficiently large to keep interest rates lower across the yield curve,” the record says. “Members agreed that the LSAP program can be scaled as needed in future. ”The RBNZ has so far bought more than NZ$10 billion of government bonds, helping drive the April 2029 yield as low as 0.48% Wednesday from 1.47% immediately before QE was announced on March 23. The yield fell 12 basis points today.Orr said yields had fallen in the way the RBNZ wanted and the bond market continues to function effectively. Asked if he would consider buying bonds directly from the government, he said that step was “a long, long way away” and needn’t be the next step if further stimulus is required.“There are a range of other tools and we’re going to keep an open mind about it,” he said. “We want full optionality.”(Updates with economist comment in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Reuters

      Lockdown bill likely to get much bigger for Australia's top banks

      Australia's big banks have warned that credit losses from the country's first recession in three decades will top A$17 billion ($10.96 billion), but analysts predict the bill for the coronavirus lockdown will be higher - perhaps more than double. If losses spike, there could be more capital raisings and dividend deferrals at the "Big Four", which together fund 80% of Australia's loans, impeding their ability to plough money into the economy as it recovers from the virus that has infected 6,800 people and killed 96 in the country, analysts warn.

    • Australia’s Banking Payout Party Comes to an End
      Bloomberg

      Australia’s Banking Payout Party Comes to an End

      (Bloomberg Opinion) -- While their peers in other countries weathered a season in hell after the 2008 financial crisis, Australian banks partied.Spared the recession that devastated lenders elsewhere, valuations soared to as much as three times book value — extraordinary levels when most banks in developed countries were trading at a discount to book.At one point in 2011, all of the country’s big four banks (Commonwealth Bank of Australia, Westpac Banking Corp., National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd.) were worth more than Bank of America Corp. in terms of market capitalization. Now, the U.S. lender is worth more than all four — put together.The road to the dismal present has been paved with money-laundering scandals, government inquiries, super-taxes, a housing market downturn and of course the coronavirus, but it’s another factor that has been most crucial: dividends.Bank valuations, after all, aren’t a disinterested vote on the credit quality of a company. Instead, they’re shareholders’ best guess of the current value of future payouts, adjusted for the risk that the share price itself may rise or fall.That’s been particularly important in Australia, thanks to the outsize influence of individuals managing their own retirement savings through so-called self-managed superannuation. In most of the world, fund managers focused on capital growth dominate the stock market, to the extent that many tech companies treat paying cash back to shareholders as a failure of imagination. In Australia, the retirement savers who make up a fifth of the stock market prize a steady and stable income, so generous dividend-payers like the country’s banks have consequently done well.Even when its valuation peaked at three times book in 2015, Commonwealth Bank, the biggest of the four, was still paying out dividends equivalent to more than 6% of its share price. Australian banks were offering all the income security of owning a bond, but with equity-style returns. There was just one problem. Much though they may have behaved like bonds to their investors, Australian bank shares were equity all along — and with the party finally ending, it’s shareholders who are ultimately taking the hit. On Monday, Westpac joined ANZ in deferring its decision about whether to make a payout this year. NAB went one step further last week, cutting its payout by about two-thirds and tapping shareholders for cash by selling A$3.5 billion ($2.2 billion) in new stock.It’s a sign of how crucial payouts have become to Australian bank shareholders that even with an unemployment rate tipped to hit 10% this year, both Westpac and ANZ are presenting their moves as delayed decisions rather than outright cancellations. Even in a crisis, giving up the gospel of dividends risks breaking the implicit contract between management and shareholders that’s supported valuations (and paid for executives’ Maseratis) for a generation.The trouble is, shareholders are already voting with their feet. Price-book valuations have slumped to positively European levels; only Commonwealth Bank is now valued at a premium to its net assets. Unlike other countries, which have spent more than a decade deleveraging, Australian household debt was at record levels relative to income just before the coronavirus struck.As rising unemployment and falling property prices eat into borrowers’ ability to repay, investors are (rightly) making the assessment that the first call on banks’ cash for the foreseeable future is likely to be funding defaulted loans. Next will be fines, like the A$1.06 billion Westpac set aside Monday for dealing with a money-laundering case.The silver lining is that those plunging share prices are making dividends, in isolation, look more attractive than ever. If the coronavirus downturn proves less drastic than feared and Westpac ends up paying out full-year cash in line with last year’s, it would be yielding around 11% at current share prices — not bad at a time when its best one-year term deposit account is paying 1.2%.It’s a mark of how bad things have gotten for Australian banks that even the perennial promise of payouts isn’t enough to tempt shareholders back this time.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Reuters

      Australian job ads slide 10.3% in March amid virus shutdown

      Australian job advertisements suffered their largest drop in more than a decade in March as strict social distancing rules and business closures to combat the coronavirus curbed demand for labour. Tuesday's figures from Australia and New Zealand Banking Group showed total job ads fell 10.3% in March, erasing a 1.2% gain the month before. It was the steepest decline since January 2009 when the global financial crisis was raging.

    • New Zealand's central bank tells banks to not pay dividends, redeem capital notes
      Reuters

      New Zealand's central bank tells banks to not pay dividends, redeem capital notes

      New Zealand's central bank said on Thursday that all banks should not pay dividends or redeem capital notes given the widespread economic uncertainty caused by the coronavirus pandemic. The local unit of Australia and New Zealand Banking Group said it will not redeem NZ$500 million ($295.80 million) in capital notes as per the Reserve Bank of New Zealand's directive.

    • How Does Australia and New Zealand Banking Group's (ASX:ANZ) P/E Compare To Its Industry, After The Share Price Drop?
      Simply Wall St.

      How Does Australia and New Zealand Banking Group's (ASX:ANZ) P/E Compare To Its Industry, After The Share Price Drop?

      Unfortunately for some shareholders, the Australia and New Zealand Banking Group (ASX:ANZ) share price has dived 41...

    • Australia central bank buys $2.9 billion of bonds in first round of unlimited QE
      Reuters

      Australia central bank buys $2.9 billion of bonds in first round of unlimited QE

      Australia's central bank bought A$5 billion ($2.87 billion) in local government bonds on Friday, in the first round of its unlimited quantitative easing programme as it looks to cushion the economic shock from the coronavirus pandemic. The Reserve Bank of Australia's (RBA) operation is aimed at reducing the funding costs for banks so that cheap credit is freely available across the economy that is on the verge of its first recession in nearly three decades. The move brings the RBA into an uncharted monetary policy setting of controlling the yield curve that only Japan has so far attempted but with little success in stimulating its economy.

    • Reuters

      RPT-Market volatility puts pressure on prices in Australian M&A deals - sources

      SYDNEY/HONG KONG, March 16 (Reuters) - At least three Australian takeovers potentially worth a combined $1.2 billion are facing lower prices and contract conditions, three sources said, as financial market turmoil sparked by the coronavirus has made it difficult for advisers and bidders to put price tags on deals. The rethinking on price comes as dealmakers had hoped Australia's relatively low number of coronavirus cases would leave it as a dealmaking sweetspot, while so many other Asia-Pacific economies, including China, the region's biggest driver of takeovers, were hit hard by the virus. Some bidders for Australian and New Zealand Banking Group's car lender UDC Finance and AMP's New Zealand wealth management business are lowering their offers and adding conditions due to the COVID-19 market chaos, two sources with knowledge of the deals said.

    • Reuters

      Market volatility puts pressure on prices in Australian M&A deals - sources

      SYDNEY/HONG KONG, March 16 (Reuters) - At least three Australian takeovers potentially worth a combined $1.2 billion are facing lower prices and contract conditions, three sources said, as financial market turmoil sparked by the coronavirus has made it difficult for advisers and bidders to put price tags on deals. The rethinking on price comes as dealmakers had hoped Australia's relatively low number of coronavirus cases would leave it as a dealmaking sweetspot, while so many other Asia-Pacific economies, including China, the region's biggest driver of takeovers, were hit hard by the virus. Some bidders for Australian and New Zealand Banking Group's car lender UDC Finance and AMP's New Zealand wealth management business are lowering their offers and adding conditions due to the COVID-19 market chaos, two sources with knowledge of the deals said.

    • Reuters

      RPT-INSIGHT-Under water? Banks play home loan lottery as insurers bail out

      SYDNEY/LONDON, March 16 (Reuters) - Only a year after losing their homes to floods in parts of Australia's north eastern coast of Queensland, people are moving into new houses built on or near the same plots. A tradesman who has bought a new home in Townsville after walking away from his water-damaged dwelling 15 kilometres (9.32 miles) away, said the insurance premium had risen 350%, a price he was not willing to pay to protect against another flood. Banks appear to be taking a similar view, with long-term funding still widely available for new and existing housing, while insurers are more picky.

    • Reuters

      INSIGHT-Under water? Banks play home loan lottery as insurers bail out

      SYDNEY/LONDON, March 15 (Reuters) - Only a year after losing their homes to floods in parts of Australia's north eastern coast of Queensland, people are moving into new houses built on or near the same plots. A tradesman who has bought a new home in Townsville after walking away from his water-damaged dwelling 15 kilometres (9.32 miles) away, said the insurance premium had risen 350%, a price he was not willing to pay to protect against another flood. Banks appear to be taking a similar view, with long-term funding still widely available for new and existing housing, while insurers are more picky.

    • A Sliding Share Price Has Us Looking At Australia and New Zealand Banking Group Limited's (ASX:ANZ) P/E Ratio
      Simply Wall St.

      A Sliding Share Price Has Us Looking At Australia and New Zealand Banking Group Limited's (ASX:ANZ) P/E Ratio

      Unfortunately for some shareholders, the Australia and New Zealand Banking Group (ASX:ANZ) share price has dived 30...

    • Reuters

      MOVES-Citigroup hires Loretta Ko to head financial institution group

      Citigroup has hired Loretta Ko to return to the investment bank and head its financial institutions group (FIG) for Hong Kong, the bank said on Wednesday. Ko was most recently at Banco Santander, where she held the same position that she will take on at the U.S. investment bank. Ko spent 15 years with Citigroup between 1989 and 2004, according to her LinkedIn profile.

    • Reuters

      Australian financial regulators in emergency meeting to discuss coronavirus impact -source

      Australia's financial regulators will discuss the impact of a new coronavirus outbreak on Australia's A$2 trillion ($1.3 trillion) economy in an emergency meeting on Monday, a source familiar with the matter told Reuters. The Reserve Bank of Australia (RBA) will meet on Tuesday for its monthly rate review. A Reuters poll last week found few analysts expected a cut from a record low 0.75%, but the sheer scale of market losses around the globe prompted financial futures to now imply a 96% chance of a move compared with just 18% last week.

    • Ashmore Group: A Niche Bet on Emerging Markets
      GuruFocus.com

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    • Reuters

      Australia investigator met other regulators before Citi, Deutsche charges

      An Australian investigator who helped bring criminal cartel charges against Citigroup Inc and Deutsche Bank AG told a court he met agents from another regulator in a cafe to discuss the matter but the talks were "high level" only. Citi, Deutsche, their client Australia and New Zealand Banking Group Ltd and several of their current and former executives are accused of forming an agreement during an A$2.5 billion ($1.7 billion) ANZ stock issue to withhold selling unwanted shares to prevent them from falling when they hit the market in 2015. In pre-trial hearings, lawyers for the banks and their staff have suggested witnesses for the Australian Competition and Consumer Commission (ACCC), which brought the charges in Australia's biggest white collar criminal case, relied on evidence that was tainted by outside influences and pressure from above.

    • Reuters

      Australia investigator in bank cartel case says boss's comments pressured him

      An Australian investigator who helped bring criminal cartel charges against Citigroup Inc and Deutsche Bank AG told a court on Wednesday he felt "pressure" after his boss made public comments suggesting imminent prosecutions. The disclosure in a pre-trial hearing relates to a central plank of the defence in Australia's biggest white collar criminal case, over a controversial 2015 stock issue for Australia and New Zealand Banking Group: the banks' lawyers want to show investigators used tainted evidence and deviated from regular process due to pressure. The matter of Australia vs Citi, Deutsche, ANZ and several of their current and former executives is being closely watched by investment bankers around the world because it could have implications on the way they are allowed to run share sales.

    • Reuters

      Australia investigator in Citi cartel case learned of concerns from rival agency

      An Australian investigator who helped bring criminal cartel charges against Citigroup Inc and Deutsche Bank AG said he first heard concerns about a stock issue they worked on from a rival regulator, but the agencies acted independently. The disclosure on Tuesday in a pre-trial court hearing relates to a central part of the defence against the country's biggest white collar criminal case: the investment banks want to show the evidence used to charge them was tainted by outside influences and departure from due process. The banks, their client Australia and New Zealand Banking Group and several current and former executives are charged with colluding during a 2015 stock issue for ANZ to withold unsold shares and keep the stock from falling.

    • Overseas buying in Asian equities fall sharply in January
      Reuters

      Overseas buying in Asian equities fall sharply in January

      Overseas investors purchased a net $459 million worth of regional equities last month, a sharp reduction from $2.92 billion of net buying in December, data from stock exchanges in India, Indonesia, Philippines, South Korea, Taiwan, Thailand, and Vietnam showed. Analysts expect flows to slow in the region, especially in economies which are dependent on China through trade and tourism channels.

    • Reuters

      Australia cartel investigator says no impropriety in exchanges with JPMorgan lawyers

      An Australian antitrust investigator who helped bring criminal cartel charges against Citigroup Inc and Deutsche Bank AG denied acting with "impropriety" when presented with communications between the regulator and informants' lawyers. The court testimony from Australian Competition and Consumer Commission (ACCC) enforcement director Michael Taylor on Monday points to a defence strategy questioning the integrity of an investigation that ended in charges of collusion during a A$2.5 billion ($1.67 billion) share sale in 2015. In pre-trial hearings, lawyers for the investment banks and their client, retail lender Australia and New Zealand Banking Group Ltd (ANZ), have been trying to show witness statements by a third investment bank which worked on the deal, JPMorgan Chase & Co, were tainted by coordination between JPMorgan's lawyers and the authorities.