Scandal-plagued Aussie banks boost funds to repay customers

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Australia's ANZ Bank said Tuesday its half-year cash profit would take a A$559 million (US$376 million) hit as a result of reimbursing customers ...

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SYDNEY: Australia's ANZ Bank said Tuesday its half-year cash profit would take a A$559 million hit as a result of reimbursing customers for unfair fees and dodgy financial advice.

Although a fraction of revenue, Australia's biggest banks are beginning to feel the impact of such repayments on their bottom lines.

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