For the third quarter to 30 June 2020, Australia and New Zealand Banking Group Limited (NZX:ANZ) has reported an unaudited statutory profit of $1,327 million with an unaudited cash profit from continuing operations of $1,498 million. The bank has also declared a full franked interim dividend of 25 cents per share. The bank’s capital position remains strong, with a Level 2 Common Equity Tier 1 capital (CET1) ratio of 11.1% at 30 June 2020.
Tracey Martin, Internal Affairs Minister, announced that a new Lottery COVID-19 Community Wellbeing Fund worth $40 million has been established to focus primarily on the community as well as social initiatives in response to coronavirus. The funding would be used to assist groups that have extra demand on their services, lost access to sources of fund, and have been working now in distinct ways amid COVID-19. Notably, the fund would be open until the allocation of all of its funding.
The Stats NZ report stated that as the pandemic spread, decreasing prices for crude oil, milk, and meat resulted in a fall in producers’ costs of production in the June 2020 quarter. The prices producers paid dropped by 1.0 percent and the prices they charged for their good and services decreased by a mere 0.3 percent.
#NewZealand #ANZ #COVID19 #Kalkine