But ANZ remains very much focused on its Asian growth strategy, said Mr Ellis.
sales of minority stakes in Asian lenders.
ANZ to update investors on Asian plans
ANZ Bank will need to explain its Asian growth strategy when it fronts investors on tour next month, after reports said the bank could hasten the sale of its minority stakes held across the region.
owns 14 per cent of China Bank of Tianjin, 20 per cent of Shanghai Rural Commercial Bank, 24 per cent of Malaysia AMMB Holdings and 40 per cent of The Philippines Metrobank Card Corporation.
problem is that they probably can find anything they can buy at the right price so it been pretty tough to find a good valuation acquisition because of pricing, he said. terms of upping a stake, it a bit tough, because in China you can only buy up to 20 per cent, and they have got about 19 per cent stake already. might hold its Chinese bank investments longer but would look to sell over time, as the Australian bank wants primary control of its investments, the analyst said.
will be more guidance at the presentation, and likely strategies for minority investments they got across Asia, said Morningstar analyst David Ellis, who will be attending.
expect that to continue and probably accelerate, and it possible that some of the minority investments may be disposed of, he said.
ANZ is the largest Australian Nike Shoes For Girls High Tops White bank in Asia, targeting 25 30 per cent of earnings from outside Australia and New Zealand by 2017, up from about 20 per cent.
be named, said ANZ was still committed to its Asian growth strategy, but could find it tougher to expand after disposing of unwanted minority stakes.
The Australian reported earlier that ANZ has engaged Goldman Sachs to advise on the potential exit of its 39 per cent stake in Bank Pan Indonesia, known as Panin, as analysts predict new capital rules will force ANZ to speed up Nike Shoes For Boys Blue
ANZ will hold an Asian investor tour on July 23 24 in Hong Kong, with analysts expecting to hear more from the bank about its future plans for the region.
Another banking analyst, who declined to Nike Shoes Cheap Wholesale
ANZ partnerships had a carrying value of $4.1bn at September 30, including the $692 million stake in Panin. The bank also Nike Shoes For Men 2017 White
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