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ANZ has this week completed its acquisition of the loan and deposit books of the Australian Wheat Board’s financing offshoot, Landmark Financial Services.
ANZ and AWB announced to the Australian Securities Exchange that the transaction, initiated late last year, had been completed.
Commenting on the transaction, ANZ group managing director of commercial Davis Hisco said the bank had strengthened its representation across rural and regional Australia with an extra 10,000 customers and an exclusive distribution and referral agreement through Landmark’s national network.
“Together with ANZ’s existing agribusiness capability, it provides Landmark customers with access to a wider range of products and services and gives us a new growth platform in rural Australia,” he said.
Hisco claimed the acquisition of the Landmark loan and deposit books made ANZ the leader in agribusiness finance in Australasia.
