ANZ announces increased provisions

The bank's resources sector exposure means it now expects even higher provisions in the first half of 2016

In its Q1 2016 trading update, ANZ said it expected 2016 first half provisions of around $800m, 57% more than the $510m in provisions recorded in the first half of 2015. It's now increased that estimate 'by at least $100m' as a result of the 'evolving position' of a number of its resources-related exposures.

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