ANZ Bank’s Asset Sale Program Experiences a Minor Obstacle in New Zealand. AUD 30 FVE Unchanged
Wide-moat Australia and New Zealand Banking Group’s asset sale and capital release program has experienced a minor obstacle with the sale of wholly owned New Zealand subsidiary UDC Finance blocked by the New Zealand Overseas Investment Office. ANZ Bank had previously announced the sale to HNA Group in January 2017 for an expected NZD 660 million with an expected 10 basis point common equity Tier 1 capital ratio uplift. ANZ Bank was expecting a gain on sale of approximately AUD 100 million. There...Australia and New Zealand Banking Group provides a range of banking and financial products and services to retail, small business, corporate and institutional clients. Co. operates on a divisional structure with six divisions: Australia, Institutional, New Zealand, Wealth Australia, Asia Retail & Pacific and Technology Services & Operations and Group Centre. Co.'s core products offered include deposits, credit cards, loans, investments and insurance, retail products provided to consumers, and banking and financial solutions provided to business customers through managers, among others. As of Sept 30 2015, Co. had total assets of A$914,869,000,000 and total deposits of A$566,847,000,000.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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