ANZ has A$53 bln of liquid assets, enough to cover 12 months
23rd Oct 08, 2:46pm
The ANZ Group in Australia announced plans today to continue issuing new shares instead of dividends and that it had A$53 billion of liquid assets, which would be enough to cover all its wholesale offshore debt facilities for 12 months if the markets did not reopen. Here's the details below in ANZ's results presentation.
ANZ's Tier 1 capital ratio of 7.7% compares well globally and against domestic peers, and represents an increase of 87 basis points since March 2008. The Group has been proactive throughout the year in its efforts to further strengthen capital, undertaking a series of initiatives including exchanging StEPS for ordinary equity, underwriting the interim dividend and raising A$1.7 billion in hybrid Tier 1 capital. To further strengthen its capital ratios ANZ will also underwrite the final 2008 dividend. Notwithstanding particularly challenging capital market conditions, ANZ has issued a record A$39 billion of term wholesale debt during the year to further strengthen our funding and liquidity position. Additionally, since 30 September 2008 the liquid asset portfolio has been significantly increased to over A$53 billion, which provides sufficient cover for over 12 months of all offshore wholesale debt maturities.