(New Zealand) – The National Bank of New Zealand has refused to comment on Australian reports that it has been put up for sale by its British owner, the Lloyds TSB Group.The reports claim that Lloyds TSB, which was instrumental in setting up the NBNZ in 1872 and moved to full ownership in 1966, was looking for around NZ$6 billion for the bank.
Deutsche Bank has reportedly been hired to review options for the sale of the business, which is likely to appeal to all three of the big Australian banks with NZ assets – Westpac, NAB and CBA.