ANZ National becomes ANZ branch; impairment provision soars

"In the current environment ANZ believes it is prudent for banks to maximize the range of funding options available to them and funding from the parent bank is one of these options," according to a statement from Australia & New Zealand Banking Group.

The move is effective today, the bank said. In the lender's disclosure statement for its New Zealand operations, it records a jump in provision for credit impairment to NZ$302 million in the 12 months ended Sept. 30, from NZ$74 million in the previous year. Net profit fell to NZ$990 million from NZ$1.04 billion.

By Jonathan Underhill

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

RYM - Refreshed strategy and new capital management framework
ENS - Clarification of Gina Tuzcet’s status
BGP - 4th Quarter Sales to 25 January 2026
Contact Energy 2026 Half Year Results Presentation
February 2nd Morning Report
VHP - Half year results announcement date and webcast details
Devon Funds Morning Note - 30 January 2026
AIA - Auckland Airport new board appointment
General Capital (GEN:NZ) Subsidiary General Finance Update
January 30th Morning Report