Asia Pacific, Banking, Global Banking, News

ANZ to Review its Retail Unit in Asia

ANZ to Review its Retail Unit in Asia

Australia and New Zealand (ANZ) Banking Group is reviewing the company’s retail operations in Asia as it tries to slash costs and increase returns.  The move is expected to strengthen the bank’s balance sheet and help it to meet capital rules that Australia and global regulators are enforcing.

“The review was part of a reshaping of the Asian strategy that includes exiting the commercial business and focusing on its core in debt capital markets, syndicated loans and trading.”

~ Reuters

The review was part of a reshaping of the Asian strategy that includes exiting the commercial business and focusing on its core in debt capital markets, syndicated loans and trading.  Recently, politicians have been calling for a high level public inquiry into a series of allegations of misconduct, including insurance fraud, improper wealth advice and interest rate rigging in Australian banks.

Related Reports: Business Times, Reuters

 

About ANZ

Our history dates back over 180 years. We are committed to building lasting partnerships with our customers, shareholders and communities in 34 countries in Australia, New Zealand, throughout Asia and the Pacific, and in the Middle East, Europe and America. We provide a range of banking and financial products and services to over 9 million customers. We employ over 50,000 people worldwide.

Visit: Australia & New Zealand Banking Corp

 


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