ANZ Group Holdings (AU:ANZ) has released an update.
Insignia Financial Ltd’s subsidiary OnePath Custodians, alongside Zurich Australia Limited and ANZ Banking Group Limited, have agreed to a $50 million class action settlement regarding historical interest rate and commission issues on certain investment products. OnePath Custodians will contribute $22 million to the settlement, which awaits court approval and will not affect the underlying net profit as it will be expensed in the first half of 2025.
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