Despite the Moving Pieces, ANZ Bank’s Fiscal 2016 Result is in Line. FVE Increased to AUD 29
Australia and New Zealand Banking Group reported another messy result for fiscal 2016 with cash profit of AUD 5.9 billion in line with consensus and down 18% on fiscal 2015. We focus on the “adjusted pro-forma cash profit†as it strips out about AUD 1.1 billion in “specified†items (one-off) and in our opinion is a better reflection of underlying performance. On this basis, profit declined 2.5% to AUD 7.0 billion, in line with our forecast. As flagged the final fully franked dividend was AUD 80 ...Australia and New Zealand Banking Group provides a range of banking and financial products and services to retail, small business, corporate and institutional clients. Co. operates on a divisional structure with six divisions: Australia, Institutional, New Zealand, Wealth Australia, Asia Retail & Pacific and Technology Services & Operations and Group Centre. Co.'s core products offered include deposits, credit cards, loans, investments and insurance, retail products provided to consumers, and banking and financial solutions provided to business customers through managers, among others. As of Sept 30 2015, Co. had total assets of A$914,869,000,000 and total deposits of A$566,847,000,000.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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