ANZ today announced it had successfully completed the sale of its OnePath Pensions & Investments (OnePath P&I) business to IOOF Holdings Limited (IOOF).
ANZ estimates proceeds from the transaction will increase its CET1 capital ratio by ~20 basis points. ANZ has reported the financial results for the IOOF business as part of Discontinued Operations since 1H18.
This successful transaction also completes ANZ’s multi-year strategy to simplify its Wealth business which began in 2016.
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