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.
The FASB had its first meeting on Leases Topic 842 implementation issues at the end of November. The FASB staff has been receiving questions from many parties and they teed up four issues for the board to discuss. Three of... read more
Although The New York Times 2016 Year in Pictures called it “unexpected” and “tumultuous,” 2016 was a stable year from a credit manager’s perspective. Scott McCann, senior credit manager of Bank Channels for Wells Fargo Equipment Finance says it was... read more