Update on AMMB Holdings

Following AMMB Holdings Berhad’s (AmBank) agreement with the Malaysian Ministry of Finance to resolve potential claims relating to its involvement with 1MDB, ANZ provided the following update on the impact on its equity accounted investment in AmBank[1]:

  • The impact on ANZ’s CET1 capital position will be neutral given its investments in associates are already a full deduction to capital.
  • The financial impact on ANZ (A$212m[2]) will be recorded as part of the equity accounted earnings from AmBank at 1H21.
  • This will reduce the carrying value of ANZ’s interest in AmBank from ~$1.050bn to ~$850m.

[1] ANZ acquired its original stake in AMMB Holdings Berhad in May 2007 and currently holds a 24% ownership interest.

[2] The $212m is not impacted by taxation

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