ANZ New Zealand to keep UDC; annual earnings rise 3%

Paul McBeth
Tue, 30 Oct 2018

By Paul McBeth Oct. 31 (BusinessDesk) - ANZ New Zealand has canned plans to sell its UDC Finance arm and will instead seek to grow the country's biggest finance company.  The local subsidiary of Australia & New Zealand Banking Group was investigating an initial public offering for UDC after a sale of the company to Chinese conglomerate HNC fell through last year. The decision against listing comes as stock market valuations are increasingly stretched after an extended bull run and volatility re-emerged with major central banks raising int...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Finance FREE
Money Answers: what's the best share investing strategy in a recession?
Frances Cook | Sat, 02 Jul 2022

Spreading your money through good quality companies, then leaving it alone for a few years is the boring but most likely way to build wealth for most of us. 

On the Money
On The Money: Air NZ's feeding frenzy, Kerry Prendergast's movie date, and more
Pattrick Smellie | Sat, 02 Jul 2022

In this week's OTM: Greg Foran's preference for pies, Kerry Prendergast's future at the film commission, a blast from the past from Enable Networks, and more...

The Economist
The great Silicon Valley shake-out
The Economist | Sat, 02 Jul 2022

We look at the world’s startups and identify the safe, the uneasy and the doomed.

Sponsored
Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges

Sponsored
Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.