most of the smaller ( ASX-listed ) banks already have significant Queensland exposure ( BOQ of course , ABA through moistly central Queensland , MYS through The Rock building society , and BEN has some branches here as well )You might be right..
If Suncorp was purchased by a new entrant, an extension of regional bank: why not but i would bet each of Suncorp customer had easy access to one of the big 4 before, so i do not expect to see that takeover as a big win for anz .probably better $ value gained by this takeover by Bendigo as an alternative, or the other 3 majors who will share some of Suncorp customers.. without any of the costs
I'd imagine the loan books would go over to ANZ and a lot of the people wouldn't be able to refinance. I remember after Covid when residential investors were panicking because they reached their loan capacity with the big 4 and they went sniffing into all these smaller banks and that was when the IR was much lower.most of the smaller ( ASX-listed ) banks already have significant Queensland exposure ( BOQ of course , ABA through moistly central Queensland , MYS through The Rock building society , and BEN has some branches here as well )
i hold SUN , ABA , and MYS but who knows what the regulator is thinking
I think it's just following the market trend at this stage and plus the buyback, the buyback has kept it trading a bit higher than it would normally be. I've bought and sold about 3 times in the last 2 months. If it drops back to a low $27 I'm buying again.ANZ down a bit like a few others.
Could it be because of the adverse publicity mentioned by timismoney?
Or is it because the market in general is down?
Of the the big four, WBC and CBA have risen to recent highs, whereas ANZ and NAB were down slightly.
Not to much to worry about at this stage.
Mick
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The Australian Prudential Regulation Authority (APRA) has increased the capital add-on applied to Australia and New Zealand Banking Group (ANZ) to $750 million in response to heightened concerns about the bank’s non-financial risk management practices.
APRA has held longstanding concerns with ANZ’s non-financial risk management, and imposed a $500 million operational risk capital add-on to the bank in 2019 to reflect deficiencies in its risk governance.
This capital add-on has remained in place as the bank implemented a remediation program. Despite this program being in place for several years, APRA has yet to observe significant improvements in ANZ’s non-financial risk management.
More recently, several issues emerging in the bank’s Markets business have increased APRA’s concerns. ANZ has admitted that it misreported bond trading data to the Australian Office of Financial Management (AOFM) in 2022-23, and that action has been taken in response to poor behaviour by employees in its Markets business.
While ANZ has launched several investigations into these issues, they raise prudential concerns that ANZ has yet to adequately address deficiencies in controls, risk culture, governance and accountability.
In response, APRA will require ANZ to:
The capital add-on will remain in place until such time as ANZ has delivered required remediation to APRA’s satisfaction.
- hold an operational risk capital add-on of $750 million, representing an increase of $250 million to the existing add-on;
- appoint an independent party to review the root causes of recent issues and risk governance in the Markets business, and assess the potential impacts across the broader bank; and
- develop a remediation plan to address findings from the independent review.
APRA Chair John Lonsdale said he was concerned at the persistence of risk governance and culture issues within one of Australia’s largest banks.
“ANZ is financially sound with strong capital and liquidity levels. However, weaknesses in managing non-financial risk can lead to detrimental financial impacts and APRA has no tolerance for such weaknesses persisting.
“Of the major banks that had capital add-ons applied in 2019, ANZ is the only bank yet to have its add-on either removed or reduced. While the bank has implemented actions to improve its risk governance and culture over the past five years, these recent issues suggest there continues to be material gaps that need to be closed as a priority.
“We have communicated our clear expectations to the ANZ board and executive team that these issues must be urgently reviewed to ensure underlying drivers are identified and addressed. Depending on the outcomes from ANZ’s independent review, APRA will consider whether further action is required,” Mr Lonsdale said.
That last bit is the one that bworries me.and reported rising arrears from higher interest rates. The number of loans that were more than 90 days overdue, but not yet formally impaired, rose by 47 per cent over the year to $4.2 billion.
that's the worry,... can have all the stats like Aggregate Savings but the reality is that the pain point for many can only be held at bay for a while , and of course the slippery slope of more borrowing (at higher rates) only makes the hole deeper.That last bit is the one that bworries me.
As the higher interest rates see less and less sign of being reduced any time soon, the number of loans in stress or worse is only going to get into higher territory.
had to rescue one of my kids already as they blew what savings they had and maxed out the credit card.
Mick
new CEO after 9 years.
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