ANZ profit halves, flags loan impairments, Board defers dividend payment, CEO Shayne Elliott sees 3-5 years for full employment recovery

The ANZ Bank has become the latest major lender to reveal the impact of the pandemic on its bottom line. 

The bank's half year profit plunged 51 percent to $1.4 billion and the ANZ board has deferred its dividend payment to shareholders to keep cash on the balance sheet. 

Chief executive Shayne Elliott is bracing for profound economic fallout and says it could take 3 to 5 years for employment to fully recover.

Here's my analysis from The World Today