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ANZ offloads stake in Cambodian bank

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May 18, 2018

ANZ continues to divest its Asian assets by selling off 55 per cent of Cambodia's ANZ Royal Bank.

ANZ has agreed to sell its majority stake in a Cambodian bank as it continues to divest assets in Asia.

The lender says the sale of a 55 per cent stake in ANZ Royal Bank to Japanese financial house J Trust will equate to a $30 million loss and complete within 12 months, subject to regulatory approval.

ANZ - which is also selling its Australian superannuation business to IOOF - has already divested retail and wealth businesses in six Asian countries, and has announced the sales of stakes in the Philippines and China.

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