ANZ may sell Asia bank stakes due to stringent capital rules
Australia and New Zealand Banking Group (ANZ.AX) would consider selling some of its stakes in Asian banks if Australia does not ease stringent capital requirements, chief executive Mike Smith said on Wednesday. The plan raises questions about how Australia’s smallest ‘Big Four’ bank will meet the profit targets it has set for offshore operations… Due to capital rules proposed by Australia’s banking regulator for minority stakes, ANZ’s holdings in Asian banks are expected to drag down its return on equity. ANZ has urged the regulator to ease the requirements which it says are tougher than proposed global industry standards…
http://uk.reuters.com/article/2012/08/15/us-anz-asia-idUKBRE87E04L20120815
