ANZ considering sale of stake in Malaysia's AmBank: sources

Sydney

ANZ Banking Group is weighing the sale of its 24 per cent stake in Malaysian lender AMMB Holdings Bhd (AmBank) and is also seeking to reduce its 20 per cent stake in China's Shanghai Rural Commercial Bank as the Australian bank steps up efforts to exit minority stakes in Asia, people familiar with the matter said.

ANZ's stake in Malaysia's sixth-biggest lender is valued at about US$820 million and its holding in the Chinese bank is valued at almost US$1.5 billion.