TMM - News

ANZ profit drops 27% after loan writedowns

Thursday 29th of October 2020

Net profit after tax dropped by $489 million to $1.33 billion, down from $1.82 billion last year. 

The massive fall comes as the bank scrambles to quantify the fallout from Covid-19, with writedowns and credit impairments increased following the crisis. 

The bank increased its "charge for expected credit losses" by 305% to $401 million.

It comes as AN...

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