ANZ exits SME business in five Asian countries, cuts 100 jobs
Move is a sign its new chief exec is reducing presence in region
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Australia and New Zealand Banking Group Ltd (ANZ) has closed its business lending to small and mid-sized enterprises (SMEs) in five Asian countries, cutting around 100 jobs, in a sign its new chief executive is slimming presence in the region.
ANZ has exited what it dubs its "emerging corporate" business in Singapore, Vietnam, Hong Kong, Indonesia and Taiwan, the bank's Melbourne-based spokesman told Reuters. Separately, people familiar with the matter said ANZ was streamlining its SME business in Asia.
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