April 23, 2018 / 12:23 AM / in a year

ANZ to book $484 mln charge on wealth business sales

April 23 (Reuters) - Australia and New Zealand Banking Group (ANZ) said it would record a loss of A$632 million ($483.9 million) on the divestment of two of its wealth businesses last year, which would be reflected in its half-year results.

The loss on the transactions includes future separation and costs of completing the transactions of A$355 million, the bank added in a statement.

ANZ also said that legal costs relating to a Royal Commission inquiry into the banking sector was expected to be in the range of A$50 million for the 2018 fiscal year and A$16 million in its first half.

$1 = 1.3060 Australian dollars Reporting by Rushil Dutta in Bengaluru; Editing by Stephen Coates

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