Original article by Michael Bennet
The Australian – Page: 21 & 24 : 1-Nov-16

CEO Shayne Elliot says the ANZ Bank will eventually offload more of its retail banking operations in Asia, after striking a deal to sell its retail and wealth assets in Hong Kong, Singapore, China, Taiwan and Indonesia. ANZ has not revealed the price of the transaction, although it says Singapore-based DBS Bank will pay $A110m more than the book value of the assets. ANZ will incur a $A265m net loss on the transaction, while it will also slightly affect its earnings per share and return on equity. ANZ expanded its presence in Asia under previous CEO Mike Smith.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, DBS BANK LIMITED, ROYAL BANK OF SCOTLAND GROUP PLC, MORGAN STANLEY AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG