I connected in to the 10am call with ANZ today. It is available...

I connected in to the 10am call with ANZ today. It is available on their website along with the presentation if you have the time.

ANZ are a major lender to Centro but the crux of their problems and the increased in provisions today relate to other exposures. On the call, ANZ said that they have increased their specific provisions because of a deterioration in exposure to the commercial property sector. They did not mention CNP specifically but when pressed by one of the analysts did say (words to the effect of) that the market was aware of who the problems relate to.

ANZ has exposure to numerous commercial property loans, some listed, some not. They also have exposure to Countrywide in the US. ANZ (rightly) refuse to name names unless, for example in the case of Bill Express, an administrator has been appointed. IMO it would be drawing a long bow to assume that the increase in specific provisions relate only to Centro, if at all. In a nutshell, I don't think we can draw any conclusions on this point.