THE journey of Australia and New Zealand Banking Group Ltd (ANZ) to dispose of its stakes in several banks in the region, especially the AmBank group, could be stubbornly slow.
It has been four months since news broke out that ANZ was disposing of its minority stakes held in banks in four countries. Apart from a 39% stake in Indonesia’s Panin Bank and a 24% stake in AmBank Group, ANZ has a 20% interest in Shanghai Rural Commercial Bank Co Ltd. Among the largest banking groups in Australia, ANZ also has a joint venture with Metrobank of the Philippines on credit cards.
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