Through the NEP agreement, Security Bank said ANZ
could capitalize on its suite of cash management products and services like bills payment, check-cutting, government statutory payments, and payroll processing for ANZ
's local and multinational corporate clients.
Capital's sole purpose is to act as the Nominated Purchaser under the
said that the decision was in accordance with the acquisition restraint that it has 'consistently applied, adding that it will continue to search for strategic acquisitions as it plans to expand in the region.
The completion of the sale marks the beginning of a 20-year agreement for Zurich to provide life insurance products to relevant ANZ
customers through the bank's channels.
'This is a major milestone for ANZ
and our ambition to develop ANZ
into a super regional bank focused on Asia Pacific,' ANZ
chief executive Mike Smith said, adding: 'We now have seven locations in China, including the rural banking subsidiary in Lianping and an approval to open a new branch in Chongqing.
group executive, Talent & Culture, Kathryn van der Merwe, said: 'Many of our employees have told us that they want more flexibility to focus on what's important outside work, and one way we're giving them that is to provide more paid time off.
Managing Director Pensions and Investments, Peter Mullin, said: "This is an important change for us as it brings our online share trading platform into the ANZ
's locally-incorporated unit, ANZ
China, is to be established on October 1, and the company has made an initial investment of CNY2.5bn.
He will report to ANZ
chief executive officer Shayne Elliott.