Aussie ANZ Denies Sales Claim

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ANZ Royal Bank was yesterday forced to deny that it was intending to sell its wealth and retail businesses in Cambodia after an announcement that Australian-based parent company ANZ Bank was selling parts of its businesses in a number of Asian markets. ANZ Bank chief executive Shayne Elliott was quoted by Reuters on Sunday as saying the Cambodian businesses were included in the announced sale to DBS group.
 

While Mr. Elliott has since “clarified” those remarks, according to a follow-up article from Reuters yesterday, ANZ Royal CEO Leonie Lethbridge told Khmer Times that the bank had no plans to sell any of its businesses in the country. “ANZ announced it will sell its retail and wealth business in Singapore, Hong Kong, China, Taiwan and Indonesia to Singapore’s DBS Bank, to focus on building a world class institutional bank in Asia,” Ms. Lethbridge wrote by email.  
 

“This transaction did not include ANZ Royal’s retail and wealth business in Cambodia, as it did not form part of ANZ’s strategic review. It’s business as usual for ANZ Royal,” she added. Reuters reported late yesterday that ANZ announced the sale of its wealth and retail businesses in Singapore, Hong Kong, China, Taiwan and Indonesia, to DBS Group for around S$110 million ($80 million).

 

read more http://www.khmertimeskh.com/news/31473/anz-denies-sales-claim/

 

 

-- © Copyright Khmer Times 01/11

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Good work my nest egg is secure