Breakfast Deals: ANZ's Indonesian ending?

Basel III rules may cause ANZ Bank to flog its Indonesian asset, while Australian banks want a piece of Lloyds’ local lending business.

ANZ Banking Group is reportedly in talks with a Japanese financial giant over its minority stake in Panin Bank as Basel III looms large. Meanwhile, Lloyds Banking Group’s Australian sale is apparently getting $1 billion offers and Stockland Group is offloading its FKP Property stake, although it could take quite a bit of time.

ANZ Banking Group, Panin Bank

It looks like the comments from ANZ Bank chief executive Mike Smith earlier this year about the potential consequences of Basel III capital and liquidity requirements weren’t in jest.

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