ANZ Group Holdings Ltd. said cash profit for the second half of this year will be impacted by significant items amounting to A$1.1 billion ($720 million), as Chief Executive Officer Nuno Matos overhauls the Australian lender.
They include a pre-tax charge of A$585 million on staff redundancies, a further A$271 million for a settlement with the securities regulator, as well as costs related to the integration of Suncorp Bank, according to a statement on Friday. There’s also a A$285 million impairment on its PT Bank Pan Indonesia investment.