You are here

ANZ sells Shanghai bank stake in latest move to unwind Asia expansion

Wednesday, January 4, 2017 - 05:50

Sydney

AUSTRALIA & New Zealand Banking Corp has agreed to sell its 20 per cent stake in Shanghai Rural Commercial Bank Co for A$1.84 billion (S$1.92 billion), in chief executive officer Shayne Elliott's latest move to unwind an Asian expansion that sapped profits.

China Cosco

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom