May 7, 2018 / 10:50 PM / 13 days ago

Australia's ANZ flags additional $751.20 mln-$1.13 bln buyback

May 8 (Reuters) - Australia and New Zealand Banking Group (ANZ) flagged on Tuesday the likelihood of an additional buy-back of shares to the tune of A$1 billion-1.5 billion ($751.20 million-$1.13 billion), over and above an ongoing programme.

ANZ also said in a statement it finalised reinsurance arrangements with Zurich Insurance Group - to which ANZ sold its insurance arm - and has received about A$1 billion as proceeds.

That would result in an increase of about 25 basis points in its APRA Common Equity Tier 1 capital, ANZ added.

$1 = 1.3312 Australian dollars Reporting by Rushil Dutta in Bengaluru Editing by Chris Reese

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