RBNZ mulls ANZ takeover

ANZ Banking Group aims to lodge an integration plan for its $A4.9 billion acquisition of the National Bank with the Reserve Bank by Christmas according to New Zealand's Independent newspaper.

Any combination of the "material parts" of the ANZ and the National Bank requires Reserve Bank approval.

Announced in October and completed on 1 December, the acquisition creates New Zealand's biggest banking group with assets of about $70 billion.

ANZ is targeting pre-tax annual savings of $A110 million

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account