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AAP

Derek Rose

ANZ cops billion-dollar profit hit amid job cut plans

ANZ James Ross Nuno Matos

ANZ has flagged that staff redundancies and regulator fines will cost the bank $1.1b in profits. (James Ross/AAP PHOTOS)

ANZ has flagged a $1.1 billion hit to its bottom line, tied to its recently announced mass job cuts and the biggest settlement ever with the securities regulator.

The big-four bank will take an after-tax charge of $414 million for the 3,500 staff redundancies announced in September, it said on Friday.

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