June 29, 2018 / 6:11 AM / 3 months ago

Australia's ANZ expects difficult trading conditions to continue - chairman

June 29 (Reuters) - Australia and New Zealand Banking Group Ltd expects difficult trading conditions to continue in the foreseeable future amid testing times for the lender, Chairman David Gonski said on Friday.

Australian authorities have charged ANZ and treasurer Rick Moscati, among others, with “criminal cartel offences” over a $2.3 billion stock issue, one of the country’s biggest cases of alleged white-collar crime.

ANZ, the country’s third largest lender, has also been hit hard by an inquiry into the financial industry which has exposed widespread wrongdoing including fraud by financial planners, deception of regulators and charging customers fees without providing a service. (Reporting by Aditya Soni in Bengaluru; Editing by Subhranshu Sahu)

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