ANZ flags charge of $146m ahead of second-half result

The news: ANZ has warned shareholders of a $146 million cost ahead of its second-half results later this month.

The numbers: In an ASX announcement, the big four bank said the after-tax charge was related to restructuring, customer remediation, transaction-related costs and the Commonwealth's Compensation Scheme of Last Resort levy. The cost was partially offset by business divestments and closures, ANZ said.

The context: The CSLR aims to pay compensation to victims of financial misconduct at the hand of entities that have become insolvent. The scheme arose from recommendations from the Ramsay Review and the Hayne banking royal commission. ANZ will announce its second-half results on Monday, 19 November.