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News: UPDATE 1-ANZ to take bigger credit hit from exposure to resources sector

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    (Updates with details)

    SYDNEY, March 24 (Reuters) - Australia and New Zealand Banking Group (ANZ) said on Thursday its credit charge for the first half of 2016 will increase to over A$900 million from its previous guidance of A$800 million, due to its exposure to resources-related sectors.

    "While the overall credit environment remains broadly stable, we are continuing to see pockets of weakness associated with low commodity prices in the resources sector and in related industries," acting chief financial officer Graham Hodges said.

    "This is a challenging part of the cycle for these customers with implications for the banking sector as individual circumstances evolve."

    ANZ announces results for the six months ending March 31 on May 3.

 
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