Anthony Kwan
Analysts have backed ANZ Banking Group’s decision to cut its retail and wealth footprint in Asia, saying it is a small but positive step for the bank’s new management team.
ANZ announced on Monday it had sold its retail and wealth businesses in Singapore, Hong Kong, China, Taiwan and Indonesia to DBS Bank, which is based in Singapore.
Analysts said the following in notes to clients on Tuesday morning:
Credit Suisse: …
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