Business Services Industry
CBA or ANZ favoured to take over Kiwi bank.
Australasian Business Intelligence, July, 2003
Jul 25, 2003 (The Courier-Mail - ABIX via COMTEX)
Lloyds TSB Group has indicated that it is holding discussions with potential buyers of the National Bank of New Zealand (NZ). The UK-based Lloyds TSB is believed to be seeking around $US4bn ($A6bn) for the bank. Australia's Commonwealth Bank and ANZ Banking Group appear to be the main contenders to acquire the NZ Bank. However, Allan Bollard, the governor of the Reserve Bank of NZ, has expressed concern at the growing trend for his country's major banks to be taken over by Australian rivals. ANZ is the fourth-largest banking group in NZ, while the Commonwealth Bank currently owns the Auckland Savings Bank.
Publication Date: 26 July 2003
NATIONAL BANK OF NEW ZEALAND LIMITED:
LLOYDS TSB...
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