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Company News Summary

Australia & New Zealand Banking Group Provides Capital Management Update

19 Jul 2021  |  19:03:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: ANZ capital management update

Australia & New Zealand Banking Group provided an update stating that the company intends to buy-back up to $1.5 billion of shares on-market as part of its capital management plan. The company had reported Level 2 and Level 1 Common Equity Tier 1 capital (CET1) ratios as at 31 March 2021 were 12.4% and 12.2% respectively, well in excess of APRA's stated unquestionably strong capital requirement of 10.5%. The company also advised that the on-market buy-back is expected to reduce the company's March 2021 CETI ratio by 35 basis points.

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