Update on large/notable items in Second Half FY22 results

Australia and New Zealand Banking Group Limited
833 Collins Street Docklands Victoria 3008 Australia
ABN 11 005 357 522

News Release
For Release: 21 October 2022
Update on large/notable items in Second Half FY22 results

ANZ today announced its Second Half 2022 Statutory and Cash Profit will be impacted by a
number of large/notable items with a net after tax charge of $113 million, equivalent to ~2
basis points of CET1 capital at level 2.

 Customer remediation charge of $43 million (after tax). While the remediation program
is approaching completion, the charge in the half related to revisions to a small number
of customer remediation provisions and remediation program costs.

 Restructuring charge of $37 million (after tax).

 Net after tax charge of $33 million comprised of the impact of business divestments or
closures during the period; a net charge relating to a lease modification and merger and
acquisition related costs.

The relevant large/notable items (continuing operations) templates, reflecting the tables
that will be shown in ANZ’s Second Half 2022 Consolidated Financial Report & Dividend
Announcement, are included on the following pages.

ANZ’s Second Half FY22 result will be announced on Thursday 27 October 2022.


For media enquiries contact:

Stephen Ries
Head of Corporate Communications
Tel: +61 409 655 551

For analyst enquiries contact:

Jill Campbell
GGM Investor Relations
Tel: +61 412 047 448

Cameron Davis
Executive Manager Investor Relations
Tel: +61 421 613 819



Approved for distribution by ANZ’s Continuous Disclosure Committee

Large/Notable items


The Group has recognised some large/notable items within cash profit from continuing operations. These items are shown in the t
ables below.



































September 2022 Full Year




September 2021 Full Year




Large/notable items included in continuing cash profit




Large/notable items included in continuing cash profit




Business
divestments/
closures

$M

M&A related
costs

$M

Custome
r
remediation

$M

Litigation
settlements

$M

Restruc-

turing

$M

Withholding
tax

$M

Lease
modifi-
cation

$M

Total

$M

Business
divestments/
closures


$M


Custome
r

remediation

$M

Litigation
settlements

$M

Restruc-

turing

$M

Asian
associate

items

$M

Total

$M

Cash Profit













Net interest income

-
-
-
-
-
-
-
-

-

(86) - - -
(86)

Other operating income

298
-
(34)
-
-
-
23
287

(28)

(56) - - (347)
(431)

Operating income

298
-
(34)
-
-
-
23
287

(28)

(142) - - (347)
(517)

Operating expenses

(69)
(12)
(190)
(10)
(81)
-
(47)
(409)

(81)

(185) (69) (127) -
(462)

Profit before credit impairment

and income tax

229
(12)
(224)
(10)
(81)
-
(24)
(122)

(109)

(327) (69) (127) (347)
(979)

Credit impairment (charge)/

release

(4)
-
-
-
-
-
-
(4)

3

- - - -
3

Profit before income tax

225
(12)
(224)
(10)
(81)
-
(24)
(126)

(106)

(327) (69) (127) (347)
(976)

Income tax benefit/(expense)

18
2
58
-
13
(126)
7
(28)

(40)

106 21 35 -
122

Cash profit/(loss)


from continuing operations


243
(10)
(166)
(10)
(68)
(126)
(17)
(154)

(146)

(221) (48) (92) (347)
(854)





September 2022 Half Year




March 2022 Half Year




Large/notable items included in continuing cash profit




Large/notable items included in continuing cash profit




Business
divestments/
closures

$M

M&A related
costs

$M

Custome
r

remediation

$M

Litigation
settlements

$M

Restruc-

turing

$M

Withholding
tax

$M

Lease
modifi-

cation

$M

Total

$M

Business
divestments/
closures

$M

Custome
r

remediation

$M

Litigation
settlements

$M

Restruc-

turing

$M

Withholding
tax

$M

Total

$M

Cash Profit

















Net interest income

-
-
3
-
-
-
-
3
- (3) - - -
(3)

Other operating income

4
-
(12)
-
-
-
23
15

294
(22)
-
-
-
272

Operating income

4
-
(9)
-
-
-
23
18

294
(25)
-
-
-
269

Operating expenses

(10)
(12)
(42)
-
(51)
-
(47)
(162)
(59) (148) (10) (30) -
(247)

Profit before credit impairment

and income tax

(6)
(12)
(51)
-
(51)
-
(24)
(144)

235
(173)
(10)
(30)
-
22

Credit impairment (charge)/

release

-
-
-
-
-
-
-
-
(4) - - - -
(4)

Profit before income tax

(6)
(12)
(51)
-
(51)
-
(24)
(144)

231
(173)
(10)
(30)
-
18

Income tax benefit/(expense)

-
2
8
-
14
-
7
31
18 50 - (1) (126)
(59)

Cash profit/(loss)


from continuing operations


(6)
(10)
(43)
-
(37)
-
(17)
(113)

249
(123)
(10)
(31)
(126)
(41)

Large/Notable items


The Group has reco
g
nised some lar
g
e/notable items within cash profit from continuin
g
operations. The impact of these items on the divisional results are shown in the tables below.



































September 2022 Full Year




September 2021 Full Year




Large/notable items included in continuing cash profit




Large/notable items included in continuing cash profit




Business
divestments/
closures

$M

M&A related
costs

$M

Custome
r

remediation

$M

Litigation
settlements

$M

Restruc-

turing

$M

Withholding
tax

$M

Lease
modifi-

cation

$M

Total

$M

Business
divestments/
closures

$M

Custome
r

remediation

$M

Litigation
settlements

$M

Restruc-

turing

$M

Asian
associate

items

$M

Total

$M

Profit before income tax
















A
ustralia Retail

(3)
-
(219)
-
(32)
-
-
(254)

(255)
(275)
-
(47)
-
(577)

A
ustralia Commercial

298
-
5
-
2
-
-
305

120
(62)
-
(5)
-
53

Institutional

8
-
2
(10)
(21)
-
-
(21)

16
28
(69)
(24)
-
(49)

New Zealand

-
-
25
-
(12)
-
-
13

13
(16)
-
(9)
-
(12)

Pacific

(26)
-
(1)
-
-
-
-
(27)

-
(2)
-
(1)
-
(3)

Group Centre

(52)
(12)
(36)
-
(18)
-
(24)
(142)

-
-
-
(41)
(347)
(388)

Profit before income tax

225
(12)
(224)
(10)
(81)
-
(24)
(126)

(106)
(327)
(69)
(127)
(347)
(976)

Income tax benefit/(expense)

18
2
58
-
13
(126)
7
(28)

(40)
106
21
35
-
122

Cash profit/(loss)


from continuing operations


243
(10)
(166)
(10)
(68)
(126)
(17)
(154)

(146)
(221)
(48)
(92)
(347)
(854)





September 2022 Half Year




March 2022 Half Year




Large/notable items included in continuing cash profit




Large/notable items included in continuing cash profit




Business
divestments/
closures

$M

M&A related
costs

$M

Custome
r

remediation

$M

Litigation
settlements

$M

Restruc-

turing

$M

Withholding
tax

$M

Lease
modifi-

cation

$M

Total

$M

Business
divestments/
closures

$M

Custome
r

remediation

$M

Litigation
settlements

$M

Restruc-

turing

$M

Withholding
tax

$M

Total

$M

Profit before income tax










A
ustralia Retail

-
-
(53)
-
(19)
-
-
(72)

(3)
(166)
-
(13)
-
(182)

A
ustralia Commercial

1
-
6
-
3
-
-
10

297
(1)
-
(1)
-
295

Institutional

1
-
8
-
(17)
-
-
(8)

7
(6)
(10)
(4)
-
(13)

New Zealand

-
-
25
-
(6)
-
-
19
- - - (6) -
(6)

Pacific

(8)
-
(1)
-
-
-
-
(9)
(18) - - - -
(18)

Group Centre

-
(12)
(36)
-
(12)
-

(24)
(84)
(52) - - (6) -
(58)

Profit before income tax

(6)
(12)
(51)
-
(51)
-
(24)
(144)

231
(173)
(10)
(30)
-
18

Income tax benefit/(expense)

-
2
8
-
14
-
7
31
18 50 - (1) (126)
(59)

Cash profit/(loss)


from continuing operations


(6)
(10)
(43)
-
(37)
-
(17)
(113)

249
(123)
(10)
(31)
(126)
(41)