The Traderszone Network

Published in TZ Latest News 3 May, 2015 by The TZ Newswire Staff

ANZ to sell loans worth $6.5 billion in dealer finance biz

Australia and New Zealand Banking Group on Monday said it plans to sell its Esanda dealer finance business, which includes A$8.3 billion ($6.51 billion) in loans to motor vehicle dealers. “The sale of the Esanda Dealer Finance business is part of a broader group priority to actively manage our portfolio of businesses to ensure we use capital efficiently, as well as a focus on ANZ-branded products,” ANZ Australia CEO Mark Whelan said in a statement. The sale does not include the ANZ commercial broker, commercial asset finance or direct-to-consumer asset finance businesses, it added.

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