UDC Finance to buy Bank of Queensland's NZ assets worth $238m

UDC Finance to buy Bank of Queensland's NZ assets worth $238m
UDC chief executive Don Atkinson says the assets align with its core business.
Staff reporters
The Bank of Queensland is selling its $238m New Zealand portfolio to non-bank lender UDC Finance.In a statement to the Australian stock exchange on Friday, the bank said the move was part of its plan to simplify and streamline its operating model, and reduce compliance by exiting “a small, non-core lending portfolio in an overseas jurisdiction”.Under the sale agreement the bank will sell its assets at 91% of the book value.Bank of Queensland business banking group executive Chris Screen said it was pleased to have secured a buyer in...

More Markets

Caniwi's Bowker sells NZME stake
Markets

Caniwi's Bowker sells NZME stake

The investor said he's made a good return. 

Golden visas could increase M&A flow
Markets

Golden visas could increase M&A flow

Despite Liberation Day wobbles, US buyers are active and hunting NZ firms.

Napier Port buoyant as NZ sharemarket rises
Markets Market Close

Napier Port buoyant as NZ sharemarket rises

Napier Port announced strong earnings growth for the six months to March.

Tom Raynel 21 May 2025
Argosy swings to $126m profit on valuation rebound
Property

Argosy swings to $126m profit on valuation rebound

The revaluations helped reverse last year's net loss of $54.5m.

Gregor Thompson 21 May 2025