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NZ's biggest finance firm sold to China
ANZ Bank sold New Zealand's biggest finance company, UDC Finance, to Chinese logistics and financial services company.
ANZ Bank sold New Zealand's biggest finance company, UDC Finance, to Chinese logistics and financial services company.
The deal is subject to various approvals and is expected to be completed late in the second half of the year.
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ANZ Bank New Zealand's UDC finance unit has posted a record annual profit, driven by booming car sales and strong growth in forestry, transport and construction.
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Heartland Bank has told investors that it remains interested in buying asset finance company UDC from ANZ Bank, describing it as an
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ANZ - the country's largest bank - has announced a 13 per cent drop in net profits to $1.54 billion for the year to September 30 . The
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New Zealand banks paid out nearly $450,000 in the last year to settle disputes with their customers.
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The Kiwi boss of ANZ has pledged to look at cutting credit card rates at a parliamentary inquiry.
In just five years, more than 150 branches of NZ's major banks have disappeared, and more are earmarked to go the same way.
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New Zealand firms had a more positive outlook in September about both their own prospects and the wider economy.
The children and babywear retailer's revenue sank with store closures and a struggling international wholesale business.
Westpac staff at 19 branches around the country are expected to be told late today whether their branch will close.
The mayors of two towns facing the prospect of two major banks closing up shop within weeks of each other say people are shocked at