ANZ: Interim result 2016

Management is taking the right steps to repair this banking giant, but it will take time and there's only so much it can do.

For years we’ve been saying that ANZ is our least preferred among the big four banks and its latest half-year result shows why.

Grabbing the headlines was a cut in the interim dividend from 86 cents to 80 cents – which we’ve warned about at least since last year’s full-year result (see ANZ: Result 2015 on 3 Nov 15 (Hold – $26.79)).

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