ANZ has disclosed it will book charges totalling $360 million against its full-year after-tax profit, a week ahead of releasing its annual results.
The bank said its financial results will include a $168 million charge against revenue of its institutional markets business, after it changed the method of valuing derivative instruments.
It will take another $100 million hit because of restructuring charges, related to the evolution of the group's strategy. It will outline more details related to this charge in its results.
ANZ said the remaining charges relate to the second-half impact of changes in its software capitalisation policy, and adjustments related to the divestment of the Esanda dealer finance business.
ANZ, Australia's fourth largest lender, in August reported a three per cent drop in cash profit to $5.2 billion for the first nine months of its financial year.
At the time, the bank said it had made provisions of $1.4 billion so far in its financial year.
Earlier in the year, ANZ cut its interim dividend for the first time since the global financial crisis after its first-half cash profit dived 24.3 per cent to $2.78 billion on the back of large restructuring charges and higher bad debt provisions.
Larger rival National Australia Bank on Thursday cheered investors, reporting a 4.2 per cent rise in full-year cash earnings to $6.48 billion, which helped it maintain a final dividend of 99 cents a share.
