ANZ Bank adds $500m to provisions in Q3

This adds to the earlier $1.21b provision.

Australia and New Zealand Banking Group (ANZ) has set aside $362.2m (A$500m) as of June to cope with the economic woes caused by the ongoing pandemic crisis, the bank revealed in its latest update report for Q3 FY2020.

This adds to the earlier $1.21b (A$1.67b) provision the bank took in the first half of its fiscal year.

Statutory profit after tax came at $960m (A$1.33b) in the quarter ending in June, higher than the H1 quarterly average of $559m (A$773m).

Australia’s fourth largest lender by market value is paying an interim dividend of about $0.18 (A$0.25) per share.