ANZ offloads stake in Cambodian bank

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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