ANZ

The penalties are a troubling milestone for Australia's fourth-largest bank, which last week announced 3,500 job cuts as new CEO Nuno Matos looks to improve profitability

Hong-Kong-based Matos has served in several of HSBC's largest regions, including Europe and Latin America, and was among the internal candidates vying to take over as CEO of HSBC

The forecasts all badly lag the government's longer-term target of getting the economy humming at rates above 8%

Pankaj and Radhika Oswal had sued the bank for $1.9 billion