The Sydney Morning Herald reported that Australian-based ANZ Bank sold UDC Finance, its New Zealand equipment financing division, to China’s HNA Group in a deal valued at $628 million.
The Herald said that ANZ by selling UDC Finance, it took a gain of $100 million.
The Herald noted that ANZ’s core markets, which it is aiming to focus on, are retail, commercial and institutional banking which UDC does not fall under.
This year’s Bank 50 set new records for both collective net assets and new business volume. Of the group, 46% registered net gains in portfolio size. Our panelists, the leaders of three of these U.S. bank affiliates, share how they... read more
Monitor 100 2017
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