Abbey sells A$1 billion Australian loan book
(Australia) – British bank Abbey National has completed the sale of the bulk of it’s A$1 billion Australian loan portfolio to three of the major Australian banks.
The Commonwealth Bank, ANZ and Westpac have reportedly bought the greater part of Abbey’s loan book for an undisclosed sum.
Abbey announced last year that it was closing its Australian wholesale operation as part of a global strategy to concentrate on its retail activities at home.
Abbey announced last year that it was closing its Australian wholesale operation as part of a global strategy to concentrate on its retail activities at home.
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