Original article by Sarah Turner
The Australian Financial Review – Page: 19 : 28-Feb-19
Brian Johnson of CLSA and Jonathan Mott of UBS have warned that Australia’s four major banks could seek to divest their New Zealand subsidiaries if the nation’s central bank presses ahead with plans to increase their capital requirements. However, the Reserve Bank of New Zealand has downplayed such suggestions, arguing that the nation’s banks are among the most profitable in the world. Mott does not expect the RBNZ to back down on its proposal.
RESERVE BANK OF NEW ZEALAND, CLSA AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD