PNG assets

ANZ selling Papua New Guinea assets

Kina Bank is a subsidiary of Kina Securities Limited, a PNG company listed on the Australian and Port Moresby securities exchanges.

In a release, ANZ said its agreement to sell allows it to "focus solely on Institutional and Large Corporate banking in the market".

It said the move is also in line with ANZ's simplification strategy, while also supporting customers with trade and capital flows in the region.

The sale includes all 15 ANZ branches with ongoing roles for all relevant staff in PNG.