December 17, 2017 / 9:19 PM / a year ago

Australia's ANZ announces A$1.5 bln buy-back

Dec 18 (Reuters) - Australia and New Zealand Banking Group said on Monday it would buy back up to A$1.5 billion ($1.15 billion) of its shares on-market as it aims to return surplus capital to shareholders after recent streamlining of its business through divestments.

“ANZ’s strong capital position combined with the progress made in simplifying our business means we are now in a position to commence returning surplus capital to shareholders,” ANZ’s Chief Financial Officer Michelle Jablko said in a statement.

ANZ added that the purchase of shares may begin next month. ($1 = 1.3074 Australian dollars) (Reporting by Rushil Dutta in Bengaluru; Editing by Adrian Croft)

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