ANZ sells part in ANZ Royal Bank, Cambodia

Whether you're a working stiff or a business owner yourself, this is the place to discuss all aspects of financing your drinking habit ;-)

NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
User avatar
CEOCambodiaNews
Expatriate
Posts: 62322
Joined: Sun Oct 12, 2014 5:13 am
Reputation: 4033
Location: CEO Newsroom in Phnom Penh, Cambodia
Contact:
Cambodia

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by CEOCambodiaNews »

ANZ will continue to own its 55% stake and manage the ANZ Royal business for up to 12 months, working closely with J Trust to ensure a smooth transition of ownership.

The proceeds inclusive of transaction costs, taxes and the release of accumulated foreign currency translation reserves equates to a circa AUD$30 million loss on sale completion for ANZ.

The transaction has been approved by the Royal Group, but remains subject to final regulatory approval from the National Bank of Cambodia and the Ministry of Commerce.

ANZ’s Institutional Bank has a presence in 15 different markets in Asia and was ranked as a top four corporate bank in the region by Greenwich Associates in 2017
https://media.anz.com/posts/2018/05/anz ... royal-bank
Join the Cambodia Expats Online Telegram Channel: https://t.me/CambodiaExpatsOnline

Cambodia Expats Online: Bringing you breaking news from Cambodia before you read it anywhere else!

Have a story or an anonymous news tip for CEO? Need advertising? CONTACT US

Cambodia Expats Online is the most popular community in the country. JOIN TODAY

Follow CEO on social media:

Facebook
Twitter
YouTube
Instagram
User avatar
StroppyChops
The Missionary Man
Posts: 10598
Joined: Tue May 06, 2014 11:24 am
Reputation: 1032
Australia

Re: ANZ sells part in ANZ Royal Bank, Cambodia

Post by StroppyChops »

Would this be the ANZ that previously denied any ownership of ANZR?
Bodge: This ain't Kansas, and the neighbours ate Toto!
Post Reply Previous topicNext topic
  • Similar Topics
    Replies
    Views
    Last post

Who is online

Users browsing this forum: No registered users and 47 guests