Stronger loans buttress ANZ profits, suppress RWAs
Gross impaired assets fall A$400 million year to year
ANZ Bank’s chief executive officer attributed the “lowest credit losses in a generation” at the firm to its embrace of tighter lending standards, the sale of its Asian businesses, and a favourable macroeconomic environment.
ANZ’s end-September credit impairment charge – the deduction from profits of reserves held against shaky loans – fell to A$688 million ($496 million) from A$1.2 billion the year before, a drop of 43%.
The credit impairment charge as a percentage of gross loans and
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