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TMM - News Bites

ANZ holds its rating despite profit fall

Thursday 5th of May 2016

The ratings agency described the bank’s recent half-year results as “a substantial decrease compared with the prior corresponding period.”

It said the items which contributed to the profit fall where either one-off in nature or positioning ANZ for the future.

“(They) are largely of a one-off nature and currently within our tolerances at the current rating level,” S&P said.

Overall the Australian and New Zealand retail bank performed well, aided by commercial lending and wealth management. 

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
16 hours ago Steve Wright
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18 hours ago Backstage
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