Hi! Welcome Back and Stay Tune! Sources: ANZ considering sale of stake in AmBank - Mukah Pages : Media Marketing Make Easy With 24/7 Auto-Post System. Find Out How It Was Done!

Sources: ANZ considering sale of stake in AmBank

Mimi Sabreena 2:26:00 PM #mukahpages, Free Malaysia Today

SINGAPORE: ANZ Banking Group is weighing the sale of its 24 percent stake in Malaysian lender AMMB Holdings Bhd (AmBank) as Australia’s No.4 bank steps up efforts to exit minority stakes in Asia, four people familiar with the matter said.

ANZ’s stake in Malaysia’s sixth-biggest lender is valued at about $820 million. It first bought a 13.5 percent stake in 2006, boosting it to nearly 24 percent in 2007.

ANZ CEO Shayne Elliott is turning his focus back on the bank’s core home market, reversing past efforts to build a pan-Asian footprint.

ANZ and AmBank declined to comment.

– Reuters

Mukah Pages bring you trending news media with Free Malaysia Today http://ift.tt/1SE0vrJ

No comments

Comments are welcome and encouraged on this site. Comments deemed to be spam or solely promotional will be deleted. Including link to relevant content is permitted, but comments should be relevant to the post topic.

Comments including profanity and containing language that could deemed offensive will also deleted. Please respectful toward other contributors. Thank you.