ANZ signals further revamp of Asian business

Melbourne

AUSTRALIA and New Zealand Banking Group flagged on Tuesday a further restructuring of its Asian business as Australia's No. 4 lender seeks to shift focus to areas where it can better exploit its potential.

New CEO Shayne Elliott told a business conference in Melbourne that the lender needs to "tighten" its Asia business that it has developed over the years, as a result of which the business might end up being smaller.