ANZ completes sell of Asian wealth businesses
ANZ has confirmed that it has finalised the sale of its six retail and wealth businesses in Asia in order to focus more on institutional and large corporate customers.
The decision was initially announced in 2016 and ANZ already managed to transfer its retail and wealth businesses in Indonesia, China, Hong Kong, Taiwan and Singapore to DBS Bank.
At the end of 2017, ANZ also sold its retail business in Vietnam to Shinam Bank.
ANZ Group’s executive, international, Farhan Faruqui said: “With the sale of these retail businesses in Asia now finalised, we can further strengthen our focus on supporting large corporate and institutional customers moving goods and capital across the region.”
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