Tag: ANZ Bank

Last major Aussie bank ditches coal, in fresh blow to sector

by Andrew BEATTY / with Holly Robertson in Brisbane Agence France-Presse SYDNEY, Australia (AFP) — Australia’s ANZ became the country’s last major bank to walk away from thermal coal investments Thursday, delivering a fresh blow to a sector facing export market upheaval and widespread public hostility. The bank said that from 2030 it would no longer finance thermal coal mines or coal-fired power stations, joining Australia’s other “big four” banks who have already made similar […]

ANZ Bank sells life insurance arm to Zurich for US$2.14 billion

SYDNEY, Australia (AFP) — ANZ Bank unveiled plans Tuesday to offload its life insurance arm to Zurich for Aus$2.85 billion (US$2.14 billion), making the Swiss giant Australia’s largest retail life insurer by premiums. It follows National Australia Bank selling most of its life insurance business to Japan’s Nippon and Commonwealth Bank shedding its insurance arm to AIA in recent years as Australia’s top lenders streamline operations. ANZ said the sale of One Path Life Australia […]