Dec 16 (Reuters) - National Australia Bank Ltd (NAB) on Wednesday said it had agreed to sell its New Zealand life insurance business to Partners Life for NZ$290 million ($206.10 million), as part of its strategy to focus on core banking operations.
The sale of the unit, BNZ Life, would result in an increase in NAB Group's Common Equity Tier 1 ratio by 6 basis points, based on its risk weighted assets as at Sept. 30, the lender said in a statement.
($1 = 1.4071 New Zealand dollars)
News: NAB National Australia Bank sells NZ life insurance unit for $206 million
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Last
$43.79 |
Change
0.250(0.57%) |
Mkt cap ! $134.1B | |||
| Open | High | Low | Value | Volume |
| $43.39 | $44.00 | $43.28 | $126.2M | 2.883M |
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|---|---|---|
| 3 | 9679 | $43.77 |
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| Price($) | Vol. | No. |
|---|---|---|
| $43.95 | 275 | 1 |
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| NAB (ASX) Chart |